Thursday, July 25, 2013

UK economic growth rises to 0.6%










The UK economy grew by 0.6% in the three months to June, according to official figures.


The figure was in line with market expectations, and is up from 0.3% growth in the previous quarter.


Output grew in all of the construction, manufacturing and services sectors the Office for National Statistics said.


It is the first estimate for growth during the second quarter of 2013, and is based on about 40% of actual data on economic activity.


The figures mean that the economy has now recouped almost half of its total 7.2% contraction during the 2008-09 recession, with output remaining 3.3% below its pre-recession peak.


The services sector grew 0.6% in the three-month period, compared with the previous quarter, and was just 0.2% below the peak level it recorded in early 2008.


The construction sector bounced back 0.9%, but still remains 16.5% below its peak, while manufacturing was up 0.4%, but still 10.2% short of its pre-recession level.




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UK economic growth rises to 0.6%

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