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UK GDP growth revised to 0.5% for April to June
The revision keeps the UK on track as the fastest-growing G7 economy so far this year, but analysts warned a winter slowdown could loom.
The Guardian reports the UK economy grew faster than initially estimated in the second quarter, with GDP for April to June revised up to 0.5%. The update comes despite disruption associated with the Iran war.
The outlet also cites IG chief market analyst Chris Beauchamp, who said the upgrade is additional good news for new prime minister Andy Burnham, even though he took office nearly a month after the period being revised.
The coverage adds that while the revision supports the UK’s position as the fastest-growing G7 country so far this year, risks have been rising since July and a winter slowdown could still affect momentum.