Menu Click to open Menus
TRENDING
Home » Uncategorized » BRITAIN BEATS: UK GDP growth revised up to 0.7% in Q2

BRITAIN BEATS: UK GDP growth revised up to 0.7% in Q2

(18 Views) September 30, 2016 8:45 am | Published by | No comment

union jack

Reuters / Jason Cairnduff

UK GDP grew by 0.7% in the second quarter of 2016, according to the final figures released by the Office for National Statistics on Friday, a beat on the previous estimate of 0.6% released in late July.

On an annual basis, GDP rose by 2.1%, slightly lower than the July estimate of 2.2%

The 0.7% growth was driven largely by strong quarterly performances by the production and services sectors, while agriculture and construction provided a small drag on the numbers.

When the ONS released its preliminary estimates of Q2 GDP in late July, the numbers surprised to the upside, with growth having been expected to read 0.5% for the quarter, and 2.1% for the year as a whole.

At that time, the numbers were used by many as an indicator that the economic impact of Brexit may not be as bad as expected. 

More follows …

 

NOW WATCH: Beware of fraudulent IRS emails in your inbox

Please enable Javascript to watch this video

The post BRITAIN BEATS: UK GDP growth revised up to 0.7% in Q2 appeared first on Business Insider.

Business Insider

Tags: , , , ,
Categorised in:

No comment for BRITAIN BEATS: UK GDP growth revised up to 0.7% in Q2

Leave a Reply

Your email address will not be published. Required fields are marked *