U.K. Economy Buoyed by Reports on Growth, Inflation and Jobs
2024-08-15 06:37:07.911000+00:00 - Scroll down for original article
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The British economy grew relatively strongly in the spring, data on Thursday showed, the latest in a string of positive economic news. After ending last year in a shallow recession, Britain’s economy has recovered as inflation slowed and business and consumer confidence improved. Output increased 0.6 percent in April to June, after growing 0.7 percent in the previous quarter, according to the nation’s statistics agency. “Growth across the three months was led by the service sector, where scientific research, the I.T. industry and legal services all did well,” Liz McKeown, the director of economic statistics at the Office for National Statistics said in a statement about the second quarter’s results. The growth report came after other data this week showed the inflation rate rising less than economists expected and the unemployment rate dropping, defying expectations that it would climb.