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Home Economy

UK economy grows by 0.6% in Q2

Ursula Curtis by Ursula Curtis
August 16, 2024
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The UK economy grew by 0.6% between April and June 2024, a slight slowdown compared with the first quarter of the year, according to official data released on Thursday.

In the period from January to March, the UK’s GDP rose by 0.7%, ending the recession in the second half of last year.

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“The UK economy has grown strongly for two quarters,” said Liz McKeown, director of economic statistics at the ONS.

Growth in the second quarter was driven by the services, technology and scientific research sectors.

Finance Minister Rachel Reeves responded by saying: “The new government is under no illusions about the difficulties we have inherited after more than a decade of weak economic growth and a £22 billion hole in the public finances.”

The Labour Party, led by Keir Starmer, came to power in the United Kingdom last month after winning parliamentary elections, ending 14 years of Conservative governments.

Ursula Curtis

“Writer. Analyst. Avid travel maven. Devoted twitter guru. Unapologetic pop culture expert. General zombie enthusiast.”

Ursula Curtis

Ursula Curtis

"Writer. Analyst. Avid travel maven. Devoted twitter guru. Unapologetic pop culture expert. General zombie enthusiast."

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