UK Economy’s Growth Surpasses Forecast
(MENAFN) The United Kingdom's economy posted a 0.3% rise in the second quarter of the year, surpassing analyst expectations, as per official figures released on Thursday.
This quarterly growth outpaced the previously forecasted 0.1% increase, marking a more robust economic performance than anticipated.
According to data from the Office for National Statistics (ONS), this recent growth follows a 0.7% increase in gross domestic product (GDP) during the first quarter of the year.
The economy's performance continues to show resilience despite ongoing global and domestic challenges.
Among the three primary sectors, the construction industry played a leading role in the expansion, recording a 1.2% rise compared to the previous quarter.
The services sector also made a notable contribution, experiencing a 0.4% increase between April and June.
However, not all sectors saw positive movement. The production sector registered a decline, shrinking by 0.3% during the same period.
In a statement, the ONS noted that "Real GDP per head is estimated to have grown by 0.2% in the latest quarter and is up 0.7% compared with the same quarter a year ago."
On a yearly comparison, the UK's GDP advanced by 1.2% in the second quarter, once again exceeding market projections and signaling continued economic momentum.
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