15 Aug 2024
Data published by the Office for National Statistics (ONS) has revealed that the UK economy grew by 0.6% between April and June.
However there was no growth in June, the ONS found. This was due to businesses delaying purchases until after the recent General Election.
The ONS report revealed: 'In a range of industries across the economy, businesses stated that customers were delaying placing orders until the outcome of the election was known.'
The data also showed that the growth rate was the second highest among the G7 group of industrialised nations – only the United States performed better, recording a growth figure of 0.7%.
The UK economy was previously shown to be in recession at the end of 2023, when it shrank for two three-month quarters in a row.