UK economy grows 0.6% in second quarter 2024

UK GDP growth
UK economy grows 0.6% in second quarter 2024

The U.K. economy grew by 0.6% in the second quarter of 2024, the Office for National Statistics said Thursday 15th August 2024, in line with expectations.

The data release follows an expansion of 0.7% in the first quarter of 2024.

Economic growth was flat in June, in line with forecasts.

The UK economy has shown modest yet consistent growth each month this year, marking an exit from a mild ‘technical’ recession. Additionally, GDP remained unchanged in April, influenced by wet weather that impacted retail sales and construction activity.

Growth was led by the services sector, in particular the IT industry, legal services and scientific research.

ONS data for UK economic growth

Comments

No comments yet. Why don’t you start the discussion?

Leave a Reply

Your email address will not be published.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