Let the first term of the geometric progression be \(a\) and the common ratio be \(r\). The sum of the first three terms is given by:
\[
S_3 = a + ar + ar^2 = 56
\]
From the condition of arithmetic progression, we know:
\[
a - 1, \quad ar - 7, \quad ar^2 - 21 \quad \text{are in arithmetic progression}
\]
For three terms to be in arithmetic progression, the middle term must be the average of the first and third terms:
\[
2(ar - 7) = (a - 1) + (ar^2 - 21)
\]
Expanding and simplifying the equation, we solve for \(r\) and \(a\). After solving, we find that the common ratio \(r\) is \( \frac{1}{2} \).