Proactive Investors – Office for National Statistics data on Thursday morning estimated that the UK economy grew over the second quarter.
Gross domestic product (GDP) expanded by 0.6% during the three months to June, following a 0.7% rise during the second quarter.
This was as the service sector grew 0.8%, offsetting declines across the production and construction industries.
Compared to a year earlier, real GDP is estimated to have climbed 0.9%, according to the ONS.
ONS figures show the economy is estimated to have stagnated in June, however.
The unrevised figures also reiterated that April saw no growth, while GDP ticked up by 0.4% in May.
Confederation of British Industry economist Ben Jones commented: “After a strong performance in May, a slowdown in GDP growth was always on the cards for June.
“But a second successive quarter of above-trend growth suggests the UK economy has finally shaken off its slumber of recent years.
“We think the quarterly data probably overstates the underlying momentum in the economy, with recent CBI surveys of activity remaining fairly subdued. But firms nonetheless appear confident that the recovery will continue.”
