Ian Scott International


UK Economy Grew By 0.6% Before Brexit Vote

Better-than-expected improvement in the second quarter was aided by the biggest jump in industrial production since 1999.

The UK economy grew by 0.6% in the second quarter of the year – more than expected in the run-up to the EU referendum.

Preliminary analysis of the country’s gross domestic product (GDP) by the Office for National Statistics (ONS) between April and June showed a surprise acceleration in output at a time when there were jitters about Brexit.

Economists had expected a similar performance to the first quarter when growth was measured at 0.4%, though it was clear growth was at its strongest in April.

The ONS charted the biggest jump in quarterly industrial production since 1999 over the three months with growth of 2.1%. The sector had been in decline over the previous quarter.

Construction output fell by 0.4% – down from a 0.3% decline in the first quarter.

The service sector, which is responsible for more than three-quarters of total UK output, slowed slightly with growth of 0.5%.

The ONS stressed that the GDP figure was an initial estimate and subject to revision but it was seized on by former Chancellor George Osborne – ousted by new PM Theresa May – that he had fixed the roof while the sun was shining.”

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