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United Kingdom Second Quarter Economic Growth Upwardly Revised

Published 2h ago

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An upward revision in second-quarter gross domestic product provides a boost to the British economy ahead of next month's budget.

Official figures show that the British economy expanded at a faster pace than initially estimated during the second quarter of the year. The Office for National Statistics recorded a gross domestic product increase of 0.5% for the period between April and June, driven largely by improvements in the service sector. This modest upward revision precedes the upcoming government budget announcement scheduled for next month.

Gross domestic product growth for the second quarter was revised upward from earlier estimates.
The service sector served as the primary driver behind the economic expansion.
The updated economic figures arrive ahead of the government budget release next month.

By the numbers

0.5%gross domestic product increase

Why it matters

GDP growth figures are closely monitored by policymakers and financial markets to gauge overall economic health and determine upcoming fiscal policy measures.

What outlets agree on

The Office for National Statistics reported that the British economy grew by 0.5% in the second quarter.

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The Office for National StatisticsEconomic growthPublic finances

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