British economy grows below forecast in Q2

The UK economy has grown annually by 0.7% in the second quarter, below forecast, according to the Office for National Statistics (ONS) data on Monday.


The UK's economy narrowed by 0.2% in the last quarter of 2023 and posted a slight increase of 0.3% in the first quarter of 2024.

Last month, the ONS had forecasted the country's economy to increase by 0.9% in the second quarter.

The UK's GDP has also grown by 0.5% in the April-June period, revised down from the previous estimated increase of 0.6%, quarter-on-quarter.