UK economy sees 0.2% growth in Q2, surprising economists

17:50, 11 August 2023

LONDON. KAZINFORM - The British economy saw a 0.2% growth in the second quarter of the year, beating economists' expectations of zero growth, official figures showed on Friday, Kazinform cites Anadolu Agency.

According to the Office for National Statistics (ONS), gross domestic product grew 0.5% in June, helped by the manufacturing sector, and 0.2% from April to June as a whole.

Surprising economists, as they had predicted GDP to grow by 0.2% in June and zero growth in the second quarter, the 0.2% growth comes after a 0.1% growth was recorded in the first quarter of 2023.

In June, services expanded by 0.2%, production grew 1.8%, and construction improved 1.6%, according to ONS data.

Darren Morgan, director of economic statistics of the ONS, said: «The economy bounced back from the effects of May's extra bank holiday to record strong growth in June. Manufacturing saw a particularly strong month, with both cars and the often-erratic pharmaceutical industry seeing particularly buoyant growth.

»Services also had a strong month, with publishing and car sales and legal services all doing well, though this was partially offset by falls in health, which was hit by further strike action.«

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