UK GDP Grew in 2Q

The U.K. economy grew in the second quarter after the easing of some coronavirus restrictions.

Gross domestic product expanded 4.8% on quarter, the Office for National Statistics said Thursday, fueled by consumer spending.

The economy ended the quarter 4.4% smaller than its pre-pandemic size, the ONS said. Growth is expected to have slowed in the third quarter as the Delta virus variant swept across the country.

The Bank of England expects the U.K. economy to reach its pre-pandemic size in the final quarter of the year.

Jason Douglas

source:marketwatch.com