UK Annual GDP Growth Confirmed at 2.2% in Q2


The British economy advanced 2.2 percent year-on-year in the second quarter of 2016, following a 2 percent expansion in the previous period and in line with preliminary figures. Consumer spending and investment accelerated, figures from the second estimate showed.

On the expenditure side, household spending increased 3 percent, higher than a 2.8 percent rise in the previous period while consumption of non-profit institutions (0.8 percent following 2.2 percent in Q1) and government spending (0.8 percent following 1.9 percent in Q1) slowed. Gross fixed capital formation rose 0.9 percent, up from a 0.7 percent increase in Q1. Exports went up 2.7 percent (2.3 percent in Q1) and imports jumped 5 percent (1.7 percent in Q1). 

On a quarterly basis, the economy advanced 0.6 percent , better than a 0.4 percent expansion in the previous three months and in line with the first reading. 

UK Annual GDP Growth Confirmed at 2.2% in Q2


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
8/26/2016 10:19:35 AM