UK GDP growth revised up to 3.2% in Q2

UK GDP growth in Q2 has been revised up marginally by the Office for National Statistics (ONS).

According to the second estimate released today, the economy expanded by 3.2% in Q2 compared to the same quarter last year, up from a preliminary estimate of 3.1% last month. GDP growth of 0.8% for the quarter was unchanged from the first estimate. As the recovery takes hold in the UK, the ONS said the latest upward move means economic growth is now 0.2% above the pre-crisis peak in Q1 2008. The UK economy has managed to recover from a downturn which saw it shrink by as much as 7.2% from its 2008 peak to its 2009 trough. The figures come a day after worse-than-expected reports f...