Financial News: UK GDP Growth Revised Up To 0.5%

UK GDP Growth Revised Up To 0.5%

09/30/2026 - 04:35:00 (RTTNews)

(RTTNews) - The UK economy expanded more than estimated in the second quarter, revised data from the Office for National Statistics showed Wednesday.

Gross domestic product posted a quarterly growth of 0.5 percent in the June quarter, which was revised up from 0.4 percent. This followed an increase of 0.6 percent in the first quarter.

In the second quarter, the services sector expanded 0.6 percent and construction grew 0.8 percent. On the other hand, the production sector shrank 0.1 percent.

On the expenditure-side, there was a 0.3 percent increase in real household final consumption expenditure. Meanwhile, government spending dropped 0.5 percent.

Gross fixed capital formation rose 0.9 percent and business investment climbed 1.8 percent.

Excluding the alignment adjustments, revised estimates showed that chained volume inventories fell by GBP 3.4 billion in the second quarter, mainly because of a reduction in manufacturing inventories.

The trade deficit for goods and services was estimated at 1.6 percent of nominal GDP in the second quarter.

Another data showed that ONS showed that the UK current account deficit, including trade in precious metals, narrowed by GBP 1.2 billion to GBP 19.9 billion, or 2.5 percent of GDP in the second quarter.

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