Beers and barbecues: Heatwave boosts UK GDP to 0.4% in Q2

Growth in retail and services

Laura Dew
clock
Summer events such as World Cup and Royal Wedding push GDP higher in Q2
Image:

Summer events such as World Cup and Royal Wedding push GDP higher in Q2

UK GDP grew by 0.4% in the second quarter of 2018, up from 0.2% in the previous quarter, according to the latest figures from the Office for National Statistics (ONS).

In the figures for the three months to the end of June, growth was driven by services and offset by a fall in production. The figure was in line with economists' expectations and those made by the Bank of England. Services saw growth of 0.5% to make it the largest contributor during the quarter but there was a 0.8% contraction in production, which had a negative impact. Business investment grew by 0.5%.  'A mixed picture of UK economy' as UK GDP climbs to 0.2% in May Looking over the first half of the year, growth was 0.6%, unchanged from the second half of 2017.  The ONS sai...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

European-focused investment grade and high yield credit have highest inflows since April 2020.

Fixed income dominates ETF flows in July

Accounted for $32.5bn

clock 08 August 2022 • 2 min read
Investors look away from energy intensive sectors such as chemicals, metals and manufacturing.

'An investor's worst nightmare': Energy rationing spells greater chaos for supply chains

Business confidence falls

clock 05 August 2022 • 5 min read
Bank of England governor Andrew Bailey

Bank of England gilt sales 'unlikely to upset markets too much'

Central bank raises rates to 1.75%

clock 04 August 2022 • 3 min read
Trustpilot