UK economy grew by 0.3% in July helped by World Cup and warm weather

(qlmbusinessnews.com via bbc.co.uk – – Mon, 10th Sept 2018) London, Uk – –

The UK economy grew by 0.3% in July after being helped by the heatwave and the World Cup, according to the Office for National Statistics.

In the three months to July, the economy expanded by 0.6%.

“Services grew particularly strongly, with retail sales performing well, boosted by warm weather and the World Cup,” said Rob Kent-Smith from the ONS.

“The construction sector also bounced back after a weak start to the year,” he added, but production contracted.

“The dominant service sector again led economic growth in the month of July with engineers, accountants and lawyers all enjoying a busy period, backed up by growth in construction, which hit another record high level,” said Mr Kent-Smith.

The 0.6% growth rate for the three months to July was at the top end of forecasts, and marks a pick-up from the 0.4% rate seen in the three months to June.