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  • Views from the flipside
  • UK economy grows 0.7% in second quarter

Views from the flipside

Between April and June of this year, the UK economy grew by 0.7%, in contrast to first quarter growth of 0.4%.

Official figures released by The Office of National Statistics (ONS) revealed that the annual rate of growth rose to 2.6% compared to the same quarter a year ago, resulting in 10 quarters of sustained economic growth.

ONS Chief Economist Joe Grice said: "After a slowdown in the first quarter of 2015, overall GDP growth has returned to that typical of the previous two years."

Industry analysis illustrates that production increased by 1.0%, transport, storage and communication increased by 0.8%, whereas construction output was flat. Manufacturing output experienced a fall, a first in two years dropping by 0.3% in the quarter.

Business services and finance saw an increase during the second quarter, up 0.8%, a positive figure compared to previous quarter of only a 0.1% increase.

Source: http://www.ons.gov.uk/ons/rel/gva/gross-domestic-product--preliminary-estimate/q2-2015/index.html

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Views from the flipside

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