• The rate of quarterly GDP growth picked up from growth of 0.2% in Q1 to 0.4% in Q2

Market news

10 August 2018

The rate of quarterly GDP growth picked up from growth of 0.2% in Q1 to 0.4% in Q2

Commenting on today's gross domestic product (GDP) figures, Head of National Accounts Rob-Kent Smith said:

"The economy picked up a little in the second quarter with both retail sales and construction helped by the good weather and rebounding from the effects of the snow earlier in the year. However, manufacturing continued to fall back from its high point at the end of last year and underlying growth remained modest by historical standards.

"The UK's trade deficit noticeably worsened as exports of cars and planes declined sharply while imports rose."

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