The UK economy grew at just 0.1% in the second quarter,lower than previously expected, the Office for National Statistics has announced.
Delivering its second and final revision, the ONS cut its previous estimate of 0.2% GDP growth in Q2, citing a bigger slowdown in growth in the services sector than previously announced. The ONS said service sector growth declined by 0.3%, worse than earlier estimates. It also revised growth figures from the first quarter down from 0.5% to 0.4%. Its revision was calculated using new data and a new methodology which it said had impacted on the numbers.
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes