UK economy grew in the second quarter – ONS

by | Sep 30, 2022

The British economy nudged higher in the last quarter, official data showed on Friday, reversing an earlier estimate for a small decline.

The Office for National Statistics said UK GDP was estimated to have increased by 0.2% in the second quarter, after it revised its first estimate for a 0.1% contraction.

It noted that there continued to be weakness in the wholesale and retail trade, and in health industries. But services output was estimated to have increased by 0.2%, reflecting “an easing” in information and communication, and professional, scientific and technical activities output.

The ONS had previously estimated that services output had fallen by 0.4%, reflecting a reduction in Covid-19 activities.

Related articles

Aldi and Lidl win UK Christmas battle

Aldi and Lidl win UK Christmas battle

(Sharecast News) - German discounters Aldi and Lidl performed best in December, according to data from retail expert Kantar, which said a record £13.7bn was spent at British supermarkets over the four weeks ended 24 December. Kantar recorded Lidl's sales growth at...

UK house prices fall 1.8% YoY in December – Nationwide

UK house prices fall 1.8% YoY in December – Nationwide

(Sharecast News) - UK house prices fell by a higher-than-expected 1.8% year on year in December, mortgage lender Nationwide said on Friday, as higher borrowing costs and deposit requirements deterred buyers. Expectations were for a 1.4% fall. Prices remained flat on a...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!

x