UK economic growth slows but beats forecasts

According to official data, Britain’s economic growth slowed down between April and June, but was better than expected.

The office for National Statistics said that the economy increased by 0.3%, which decreased by 0.7% in the first three months of the year.

The biggest contribution came from services while the construction industry also increased.

The UK government has promoted an important priority to economic development and the latest data on the 0.1% expansion forecast.

Chancellor Rachel Reavs said that the figures for an economy were “positive” that “got stuck for a very long”.

But he said: “There is more to give an economy that works for the working people.”

However, the conservative shadow Chancellor Mail Streak accused him of “economic barbarism”, while Liberal Democrat MP Daisy Cooper said: “Snails will play at the speed that our economy is growing.

“The Conservative Party took us to this economic bizarre, but this labor government has failed to break over the years of mismanagement.”

According to ONS data, the economy performed better than expected in June, while the previous estimates of April were revised upwards.

The ONS initially stated that GDP (GDP) – a major measure of economic activity – had shrunk to 0.3% in April, but now said that it is contracted up to 0.1%.

But Ruth Gregory, an economist at the UK Deputy Chief of Capital Economics, said it was suspected that the country would “maintain this pace of development” between July and September.

“Weak global economy will be a pull over UK GDP growth for some time,” he said.

“The full drag on trade investment has not yet been felt by the tax growth of April. And there will probably be speculation about moving in the autumn budget alerting consumers.”

James Smith, an economist of ING Bank, told the BBC Today program that the figure for the period of April to June was “not bad”.

In the first three months of the year, economic growth was promoted by firms trying to get ahead of Donald Trump’s tariff “, he said, as well as homebuits to complete the stamp duty threshold in April before a change in the threshold.

“Those factors were always going to be a drag, so the fact that we are finished with an increase of 0.3% in the atmosphere of global uncertainty, not really a bad result,” he said.

Experts suggested that the hot, dry weather helped promote the construction sector which expanded to 1.2% between April and June.

Ian Hosakins, who owned several places in Liverpool, said he was “very worried” after the previous budget, adding £ 100,000 to his cost with an increase in national insurance contribution.

However, he said that he had felt more positive than “as much as we have done for the last few years,” thanks to better weather and consumer trust.

He said, “The quarter we are talking about, we had a very early heat and often the period could be a full washout,” he said. “Unexpected sunlight actually implemented people.

“Lower interest rates have really helped: more money in people’s pockets. It’s fundamental.”

Bank of England has cut interest rates five times in the last 12 months, lending to 4%.