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Financial News: UK GDP Growth Accelerates In Q2

UK GDP Growth Accelerates In Q2

08/10/2018 - 05:08:00 (RTTNews)

(RTTNews) - UK economic growth doubled in the second quarter driven by stronger growth in both services and construction sectors, first quarterly estimate from the Office for National Statistics showed Friday.

Gross domestic product rose 0.4 percent, faster than the 0.2 percent expansion seen in the first quarter. The rate came in line with expectations.

On a yearly basis, GDP advanced 1.3 percent versus 1.2 percent growth seen a quarter ago.

The dominant services output expanded 0.5 percent. At the same time, construction logged a quarterly growth of 0.9 percent. Meanwhile, production dropped 0.8 percent.

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