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9/30/2022, 8:02 AM (Source: TeleTrader)
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UK GDP grows by 0.2% in Q2

The United Kingdom gross domestic product (GDP) marked an increase of 0.2% in the second quarter of the year, exceeding analysts' expectations and previous results for the same period, according to the latest data released by the country's Office for National Statistics (ONS) on Friday. However, the economy continues to slow, the report read, adding the UK is the only G7 nation that has still not returned to pre-coronavirus levels of real GDP.

The services sector marked an increase of 0.2% in its output in the quarter, however, ''there was also continued weakness in the wholesale and retail trade, and health industries.'' Production sector output fell by 0.2% in the quarter. On the other hand, construction output went up by 1.1%.

The report also indicated that households registered a slowing growth of their consumption expenditures in the second quarter.

Baha Breaking News (BBN) / MM