Economy Picks Up Pace as Growth Reaches 0.2% in the Second Quarter of 2023 mdi-fullscreen

Much to the relief of Rishi Sunak and the second of his five pledges, the UK economy grew by 0.2% in the second quarter of 2023. According to figures published today by the ONS, this came off the back of a solid 0.5% growth in the month of June – which was mainly down to 1.5% growth in the production sector. The latest update leaves the economy performing better than expected, after the Bank of England pencilled in 0.1% growth for the quarter.

With the economy now (barely) growing and inflation showing signs of slowing, the prospects of the Prime Minister’s pledges are looking better than just months ago. Though, debt is still up, waiting lists are at a new record high and the boats aren’t stopping. All eyes now on the all-important inflation stats, due for publication next week…

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