Economic Buzz: UK Economy Expands In Q2

30 Sep 2022 , 01:54 PM

UK gross domestic product grew 0.2 percent sequentially, which was revised up from a first estimate contraction of 0.1 percent, data released by the Office for National Statistics showed on Friday. Nonetheless, the pace of growth was weaker than the 0.7 percent expansion posted in the first quarter. Moreover, the ONS estimated that the level of real GDP was 0.2 percent below its pre-pandemic level, downwardly revised from the prior estimate of 0.6 percent above the pre-coronavirus period. On a yearly basis, the economy grew 4.4 percent in the second quarter, up from the initial estimate of 2.9 percent.Powered by Commodity Insights