The Office for National Statistics' second estimate for growth showed GDP rose a quarterly 1.2% between April and June, up from its initial estimate of 1.1% released a month ago
The British economy grew at the fastest pace in nearly a decade in the second quarter, higher than initially estimated, thanks to a pick-up in the construction industry and strong household spending.
The Office for National Statistics' second estimate for the second quarter showed GDP rose 1.2% between April and June, the fastest growth since the first quarter of 2001. The figure was revised higher from the initial estimate of 1.1% released a month ago and compared with 0.3% growth in the first three months of the year.
Construction output proved stronger than first thought, soaring by 8.5%, the highest rate since 1982. Consumer spending rose by 0.7%, the strongest quarterly rise since early 2008 and compared with a 0.1% drop in the first quarter. Government spending advanced by 0.3%.
The service industries expanded by 0.7%, with business services and finance bouncing back with 1.5% growth, while manufacturing powered 1.6% ahead.
More here: UK economy shows fastest growth in over nine years | Business | guardian.co.uk
The British economy grew at the fastest pace in nearly a decade in the second quarter, higher than initially estimated, thanks to a pick-up in the construction industry and strong household spending.
The Office for National Statistics' second estimate for the second quarter showed GDP rose 1.2% between April and June, the fastest growth since the first quarter of 2001. The figure was revised higher from the initial estimate of 1.1% released a month ago and compared with 0.3% growth in the first three months of the year.
Construction output proved stronger than first thought, soaring by 8.5%, the highest rate since 1982. Consumer spending rose by 0.7%, the strongest quarterly rise since early 2008 and compared with a 0.1% drop in the first quarter. Government spending advanced by 0.3%.
The service industries expanded by 0.7%, with business services and finance bouncing back with 1.5% growth, while manufacturing powered 1.6% ahead.
More here: UK economy shows fastest growth in over nine years | Business | guardian.co.uk
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