Economic news

UK economy expands by 0.3 percent in second quarter

UK GDP expanded by 0.3 percent in the three months to the end of June, according to the revised data from the Office for National Statistics (ONS). Economy grew at a 1.7% annual rate. The figures coincided with both the preliminary assessment and the experts' forecasts.

Household spending rose 0.1%, the weakness of this indicator was the main factor limiting the acceleration of the UK economy growth.

The export and import of goods and services increased by 0.7% in April-June compared to the first quarter.

Experts predict that UK economy will grow by 1.5% in 2017 and by 1.3% in 2018.

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