Consultancy services were one of the biggest drivers of UK economic growth in the third quarter, driven by rising demand from firms for AI and tech-related services.
The Office for National Statistics (ONS) reported the economy grew 0.7 per cent between July and October, with the consultancy and computer programming industries, and related activities being “the largest driver of GDP growth across 2026.”
The information and communications sector grew by 2.1 per cent in the third quarter of this year, the ONS reported, with consultancy, computer programming, and related activities up by 4.4 per cent.
Tamzen Isacsson, chief executive of the Management Consultancies Association (MCA), told the figures “underline the important contribution consulting makes to the UK economy.”
“Our latest insight and data from leading firms show strong growth in fee income of six per cent for this year as forecast,” Isacsson said.
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Dean Hughes, head of consulting and digital at London-listed advisory group MHA, told the firm is “seeing organisations across many sectors investing in technology, data, and AI solutions; and they are using advisers to help them do the implementations and manage the risks the tech brings.”
“This past quarter has been the busiest of the year for MHA’s consulting and digital service line,” he added.
Accountancy and legal sector revenues rebound
As the consulting sector’s growth soared in the third quarter, both the legal and accountancy sectors saw a boom.
According to the ONS’ latest data, accounting industry revenues rose 13 per cent in September to £4.25bn, up from £3.75bn in August, the sector’s lowest monthly figure so far this year.
“August is, of course, always a quieter month due to the holiday season, but it is good to see that September’s revenues bounced back amidst wider UK economic performance that was more positive than many expected,” Julie Matheson, accounting industry regulatory partner at Kingsley Napley, said.
Matheson added, however, that with the “ongoing Iran situation, rising UK inflation and interest rates and the adoption of AI impacting business models, firm leaders would be advised to remain vigilant in their business planning.”
The UK’s legal industry saw revenues spike 15.5 per cent in September to £5.35bn, up from £4.63bn in August, according to ONS’ monthly business survey.