UK Q2 GDP Expands 0.4% On Household Spending, Investment
rttnews·- The UK Office for National Statistics reported that the country's real gross domestic product expanded by 0.4% in the second quarter. - This economic growth was primarily driven by household consumption and fixed capital formation, matching market expectations following a 0.6% increase in the first quarter. - The expansion occurred despite ongoing uncertainties intensified by the Middle East conflict.UK economy to ‘reverse gains’ as construction drags growth
cityam·- Economists predict that the UK economy contracted by 0.1 per cent in June 2026, driven primarily by a sharp fall in construction activity and stagnation in services and production output. - Despite the monthly contraction and persistent job cuts in the construction sector, household consumption and warm weather helped support retail sales and prevent a sharper economic decline. - Second-quarter growth is projected to reach 0.4 per cent, beating earlier forecasts and showing resilience against geopolitical concerns and subdued broader corporate investment.