Britain’s economy was the fastest growing among the Group of Seven large advanced economies in the first half of this year
[LONDON] Britain’s economy grew 0.3 per cent in the April-to-June period of this year, the Office for National Statistics (ONS) said on Tuesday (Sep 30), unrevised from the ONS’ initial estimate and as expected in a Reuters poll of economists.
Britain’s economy was the fastest growing among the Group of Seven large advanced economies in the first half of this year.
But some of that expansion was due to one-off factors – including a rush of exports before US import tariffs took effect – and the Bank of England forecasts growth in 2025 overall will be a modest 1.25 per cent.
Tuesday’s data showed that Britain’s GDP in the second quarter was 1.4 per cent higher than a year ago – revised up from an initial 1.2 per cent estimate – while on a per capita basis, output in the second quarter was 0.9 per cent higher than the year before.
Overall 2024 GDP growth was unrevised at 1.1 per cent.
Britain’s current account deficit in the three months to the end of June totalled £28.939 billion (S$50.19 billion), well above a poll forecast of £24.9 billion and equivalent to 3.8 per cent of GDP, up from 2.8 per cent in the first quarter of 2025. REUTERS
