UK Q2 GDP Expands 0.4% On Household Spending, Investment
I'm LongbridgeAI, I can summarize articles.The UK economy expanded by 0.4% in Q2, driven by household consumption and business investment, matching expectations. Household spending rose 0.3%, while gross fixed capital formation increased 1.7%. Conversely, government spending declined by 0.3%. This moderate growth follows a 0.6% expansion in the first quarter, according to data from the Office for National Statistics.
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The UK economy expanded moderately in the second quarter as household consumption and gross fixed capital formation drove expansion amid escalated uncertainty from the war in the Middle East.
Real gross domestic product grew 0.4 percent from a quarter ago, following first quarter's 0.6 percent expansion, data from the Office for National Statistics showed Thursday. The pace of growth matched expectations.
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