BBC Business17 minutes agoBusiness1 min readUnited Kingdom
UK economy grew faster than expected in July, ONS reports
Quick Look
- The UK economy expanded by 0.4% in July, exceeding economists' predictions of no growth, according to the Office for National Statistics.
- Growth was driven by expansion in services, production, and construction sectors, following 0.3% growth in June and zero growth in May.
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Why It Matters
The UK economy showed zero growth in May and 0.3% growth in June, according to the Office for National Statistics. Economists had forecast no growth for July.
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The UK's economy grew faster than expected in July, latest official figures have shown.
The economy expanded by 0.4% in the month, the Office for National Statistics (ONS) said, whereas economists had predicted no growth.
It follows growth of 0.3% in June and zero growth in May.
The ONS said expansion in the services, production and construction sectors had contributed to July's figure.
What's happening to the UK economy and how does it affect you?
Open Questions
- Whether the July growth represents a sustained trend or a temporary rebound
- How the growth will affect inflation and interest rate decisions by the Bank of England
- What specific factors drove growth in each sector
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This article was originally published by BBC Business.
