United Kingdom economic growth remains lacklustre in second quarter

The figures will be interrogated to find evidence of the impact of the Brexit vote and will be crucial as Chancellor Philip Hammond plots his next Budget

United Kingdom economic growth remains lacklustre in second quarter

"Normally you would be hoping for growth of about 0.7% to keep the United Kingdom growing in line with its long run potential".

Construction and manufacturing were the largest downward pulls, following two consecutive quarters of growth, the ONS said.

Professional services firm PwC last week trimmed its forecast for economic expansion, anticipating growth of just 1.5 per cent in 2017 and 1.4 per cent in 2018 from 1.8 per cent growth a year ago.

The Office for National Statistics (ONS) reported that Britain's gross domestic product (GDP) grew 0.3% on a quarterly basis in the three months to the end of June, in line with forecast and higher than the 0.2% gain recorded in the first quarter.

The second quarter performance was underpinned by the services sector, with output expanding by 0.5 per cent between April and June, up from 0.1 per cent for the quarter before.

Australian Indigenous Singer Dr G Yunupingu Dies
Yunupingu earned many awards, including ARIAs and Deadlys, and was named the Northern Territory's Australian of the Year in 2009. The Australian Broadcasting Corporation quoted a friend of Yunupingu's, Vaughan Williams, as saying his death was "preventable".

The Chancellor has warned the economy is likely to be turbulent while Brexit is negotiated.

GDP per head, which takes into account the growing population, was meagre, at only 0.1 per cent during the quarter, the ONS said.

The ONS said the growth was driven by services, particularly retail and the country's thriving film industry.

Motion pictures were the second biggest contributor from the services sector, growing by 8.2 per cent and bolstering GDP by 0.07 percentage points.

The British economy expanded in line with expectations in the second quarter of 2017, as retailers and the film industry delivered a slight improvement from weaker growth earlier in the year. Meanwhile average weekly earnings grew by only 1.8 per cent.

Maxime Gonalons backing Roma move for Leicester winger Riyad Mahrez
Riyad Mahrez wanted to join Arsenal last summer. "Everyone knows about Riyad Mahrez ", Morgan told the Leicester Mercury. He's putting in a shift for the boys.

On Monday, the International Monetary Fund slashed its United Kingdom growth forecast for this year and warned the British economy was "tepid".

The second-quarter GDP reading compares with a 0.4 per cent pace predicted by the Bank of England, where policy makers are divided on the outlook for the economy and how to respond.

The IMF said it remained optimistic about a good Brexit deal and had not cut expectations for economic growth in future years.

And the Centre for Economics and Business Research (Cebr) anticipates that the United Kingdom economy will grow by just 1.3 per cent in 2017, a substantial downward revision from an earlier forecast of 1.7 per cent. The better spending figures were largely due to summer weather.

Physicians Realty Trust (DOC) Passes Through 5% Yield Mark
The sales growth rate for a stock is a measure of how the stock's sales per share (SPS) has grown over a specific period of time. March 23 investment analysts at Citigroup left the company rating at "Buy" but raised the price target from $32.00 to $34.00.

Últimas notícias