Economy suffers weakest six-month growth since 2011
The British economy has suffered its weakest six-month growth period since 2011, as the figure for the first quarter was revised lower.
While the second reading for gross domestic product (GDP) confirmed initial estimates of 0.4% for the second quarter, the Office for National Statistics (ONS) said growth was weaker in the first three months of the year.
0.4% growth in #GDP in Q2, unrevised from the previous estimate https://t.co/hJxXpNd2UKpic.twitter.com/HV71WfJemj
— ONS (@ONS) September 28, 2018
It has revised GDP down from 0.2% to 0.1% for the period from January to March this year – a period that saw the country hit by extreme wintry weather brought in by the Beast from the East.
The 0.4% estimate for second quarter GDP was in line with economist estimates.
Growth in #GDP in Q2 driven by services and construction https://t.co/hJxXpNd2UKpic.twitter.com/kliimZ0gLy
— ONS (@ONS) September 28, 2018
The pound was mixed on the release, trading higher by 0.1% against the euro at 1.124, but down 0.15% versus the US dollar at 1.305.
