UK Economy Grows Again

UK Economy Grows Again.

The Office for National Statistics (ONS) has produced figures that show the UK economy grew by 0.6% in the 3 months leading to June.

George Osborne Chancellor said that the economy was recovering, despite opposition claiming that families were still suffering.

Among the data it was shown that output on services, manufacturing, construction and agriculture all saw growth. Despite most data showing a strong improvement the output and growth for the rest of the year still remains uncertain.

Our View

This is the fastest rate of growth for a number of years and the puts the annualised growth over the last 12 months at 1.4%pa.  Markets will react well and no doubt the Chancellor will feel justified in his tough austerity budgeting combned with business stimulus.