• Revised U.K. GDP grows at 0.7% in the second quarter

Market news

28 August 2015

Revised U.K. GDP grows at 0.7% in the second quarter

The Office for National Statistics (ONS) released its revised gross domestic product (GDP) data on Friday. The revised U.K. GDP expanded at 0.7% in the second quarter, in line with expectations and the preliminary reading, after a 0.4% rise in the first quarter.

The growth was driven by a rise in exports and business investment. Exports climbed 3.9% in the second quarter, while imports were up 0.6%.

Business investment jumped 2.9% in the second quarter.

Economists have said the increase trade might be temporary due to a stronger pound, which makes British products more expensive abroad.

On a yearly basis, the revised U.K. GDP rose 2.6% in the second quarter, in line with expectations and the preliminary reading, after a 2.9% gain in the first quarter.

The service sector climbed 0.7% in the second quarter.

Household spending rose 0.7% in the second quarter, after a 0.9% increase in the first quarter.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.