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.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

German Producer Price Inflation Highest Since 2023 On Energy Price Surge (05 hr(s), 41 min(s), 36 sec(s) ago)
(RTTNews) - Germany's industrial producer prices rose at the fastest pace since early 2023 in ...Full Story»

Eurozone Construction Output Grows 1.8% (07 hr(s), 29 min(s), 36 sec(s) ago)
(RTTNews) - Eurozone construction output expanded at the fastest pace in five months in August, Eu ...Full Story»

U.S. Pending Home Sales Plunge Much More Than Expected In September (07 hr(s), 33 min(s), 36 sec(s) ago)
(RTTNews) - Pending home sales in the U.S. plunged by much more than expected in the month of Sept ...Full Story»

U.S. Housing Starts Unexpectedly Extend Nosedive In September (08 hr(s), 0 min(s),36 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Monday unexpectedly showed an extended ...Full Story»

UK Unemployment Rate Unexpectedly Drops (07 hr(s), 59 min(s), 36 sec(s) ago)
(RTTNews) - The UK unemployment rate unexpectedly declined in the three months to August amid an i ...Full Story»

Portugal Producer Price Inflation Climbs To 9.2% (08 hr(s), 26 min(s), 36 sec(s) ago)
(RTTNews) - Portugal's producer price inflation accelerated further in September to the highes ...Full Story»

Eurozone Current Account Surplus Lowest Since 2023 (08 hr(s), 59 min(s), 36 sec(s) ago)
(RTTNews) - The euro area current account surplus declined sharply to the lowest since early 2023 ...Full Story»

Luxembourg Jobless Rate Highest Since July 2020 (09 hr(s), 03 min(s), 36 sec(s) ago)
(RTTNews) - Luxembourg's unemployment rate increased further in September to the highest level ...Full Story»