UK Economy Grows 0.4 Percent in July as Services Drive Expansion
Economists say the stronger July performance gives Chancellor John Healey a boost ahead of his first Budget statement in October.
The UK economy experienced growth in July, with positive contributions from the services, production, and construction sectors. This expansion followed a modest rise in June and a flat performance in May. The overall trend indicates continued economic growth over a longer period, with real GDP increasing by 0.4 percent in the three months leading up to July.
- The UK economy grew by 0.4 percent in July.
- Services, production, and construction sectors all expanded.
- This growth follows a 0.3 percent increase in June and a flat performance in May.
- Real GDP grew by 0.4 percent in the three months to July compared to the previous three-month period.
- Chancellor John Healey noted the economy’s resilience despite external pressures.
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