UK Economy Beats Forecasts with 0.3 Percent Growth in Q2

2025-08-14 04:04:56

(MENAFN) The UK economy grew by 0.3% in the second quarter of 2023, beating market projections, as per official data published Thursday.

Analysts had anticipated a modest 0.1% rise for the quarter.

This growth followed a stronger-than-expected 0.7% increase in the first quarter of 2023, data from the Office for National Statistics (ONS) revealed.

Among the three primary sectors, construction was the standout contributor, showing a solid 1.2% growth on a quarterly basis.

Meanwhile, services output also saw a 0.4% rise in the April-June period.

However, production output faced a decline of 0.3% during the same period.

The ONS noted, "Real GDP per head is estimated to have grown by 0.2% in the latest quarter and is up 0.7% compared with the same quarter a year ago."

In annual terms, the UK’s GDP rose 1.2% in the second quarter, outperforming forecasts.

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