UK economic growth meets expectations in Q2

Dhwani Mehta FXStreet

Latest data from the Office for National Statistics (ONS) revealed that the economic growth in the UK showed a solid pace of expansion in the second quarter of 2016, coming in line with market expectations.

The UK GDP second estimate showed an increase of 0.6% q/q in the second quarter of 2016, up from 0.5% booked in the first quarter, while matching estimates of a rise of 0.6% in June quarter.

On annualized basis also Britain’s GDP rose 2.2% versus 2.2% expected and as compared to the previous reading of 2.0%

The ONS stated in the report, “Services increased by 0.5% and production increased by 2.1%. In contrast, construction decreased by 0.4% and agriculture decreased by 1.0%."

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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