UK economy grows 0.6% – as general election partially blamed for flatline in June | Business News – MASHAHER

ISLAM GAMAL15 August 2024Last Update :
UK economy grows 0.6% – as general election partially blamed for flatline in June | Business News – MASHAHER



The UK economy grew 0.6% over three months, official figures show. 

But there was no growth at all in June, the Office for National Statistics said, as businesses delayed purchases until after the general election.

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“In a range of industries across the economy, businesses stated that customers were delaying placing orders until the outcome of the election was known,” the ONS said, though added it’s difficult to quantify the exact impact.

It’s a fall from a month earlier when the economy expanded 0.4%.

Gross domestic product (GDP) – the measure of everything produced in the UK – expanded from April to June.

How does the UK compare?

That growth rate was the second highest among the G7 group of industrialised nations, only the United States performed better with 0.7%.

Two G7 countries, however, have yet to publish their GDP data for the period – Japan and Germany.

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Source Agencies

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