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UK quarterly growth figures downgraded
Business digest: ONS says the economy grew by just 0.1% between April and June
THERE was more worrying news for the UK economy as it emerged that second quarter growth this year was just 0.1%, less than the 0.2% that had been predicted. The Office of National Statistics also revised down its GDP growth figure for the first three months of the year, from 0.5% to 0.4%.
The figures raise more questions about the strength of the UK's economic recovery, and suggest that the country had almost ground to a halt before the summer.
The ONS also reported that household consumption fell by 0.8% in the second quarter.
But there was better news in a survey from Markit/CIPS which reported improved growth in September and also recorded unexpectedly good figures in the manufacturing industry.
However, the sluggish GDP figures worry some, and this week the International Monetary Fund warned that Europe's biggest economies should not prioritise cuts over improving growth.
Read a full report at the BBC. ·
