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28 Jul 2015
UK GDP grew 0.7% in the second quarter
FXStreet (Mumbai) - The data released by the UK Office for National Statistics (ONS) on Tuesday showed GDP is estimated to have increased by 0.7% in Q2 2015 compared with growth of 0.4% in Q1 2015.
This was the 10th straight expansion witnessed by the UK economy. The official report also showed GDP was 2.6% higher in Q2 2015 compared with the a 2.9% rise seen in the same quarter a year ago. Services, the largest part of the economy, accounted for 0.5 percentage point of the increase in GDP in the second quarter.
The ONS data is a first estimate and may be revised as it is based on about 44% of the information that will ultimately be available.
This was the 10th straight expansion witnessed by the UK economy. The official report also showed GDP was 2.6% higher in Q2 2015 compared with the a 2.9% rise seen in the same quarter a year ago. Services, the largest part of the economy, accounted for 0.5 percentage point of the increase in GDP in the second quarter.
The ONS data is a first estimate and may be revised as it is based on about 44% of the information that will ultimately be available.