ONS reports UK economy prospering

The data indicate a continued strong economic expansion and compare with growth of 0.7pc in the previous quarter. On an annual basis, growth hit 3pc, exceeding analysts’ expectations and leading to a further strengthening of the pound. Stronger construction and production output offset a slower rate of expansion in services, though overall growth remains driven by the service sector. Business services and financial sector growth in particular was strong in Q2, at 1.3pc. Q2 was the sixth successive quarter of above-average growth and further stokes the likelihood of additional in...