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UK economic growth slows in Q2

by ChemOrbis Editorial Team -
  • 26/07/2017 (18:31)
According to the Office for National Statistics (ONS), the UK’s GDP expanded at a slower rate of 0.3% in the second quarter of 2017 when compared to the previous quarter. This slow growth rate in Q2, which came in line with the expectations, stemmed from a rise in service sector by 0.5%.

Meanwhile, construction and manufacturing services posted respective decreases of 0.9% and 0.4% in April-June period, weighing down on the economic growth. Meanwhile, the mining sector also posted a fall of 0.9%.

Meanwhile, on a yearly basis, the country’s economy also grew by 1.7%, as expected, compared to an expansion of 2% in the previous quarter.
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