POST Online Media Lite Edition


UK Q2 GDP growth confirmed at 0.6 percent

Staff Writer |
UK gross domestic product growth was confirmed at 0.6% for the second quarter, according to the second estimate from the Office for National Statistics.

Article continues below

The economy had grown by 0.4% in the previous quarter. On the year, growth was confirmed at 2.2%, compared to 2% in the first quarter.

Mike Read, co-founder of app-only trading network Pelican, said: "Those who feel the Bank of England were too quick to cut interest rates earlier in the month will now have all the more reason to grumble following today's positive GDP figures.

"Despite the near universal agreement that the British economy would suffer significantly in a post-Brexit climate, June's extraordinary retail sales figures coupled with today's GDP data paint a slightly rosier picture."

What to read next

OECD GDP growth stable at 0.4 percent in Q1
UK services growth at 11-month low
Central bank revises up Ireland's 2016 GDP growth forecast