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0.2% growth in the second quarter

0.2% growth in the second quarter

Rishi Sunak, Prime Minister of England. Poole/REUTERS

The United Kingdom posted growth of 0.2% in the second quarter, an acceleration compared to the first quarter, driven by manufacturing activity and falling commodity prices, as well as the hotel and restaurant sector, the report said on Friday. ‘ONS. In the first quarter, gross domestic product (GDP) rose 0.1%. The Office for National Statistics (ONS) recalls that in June, activity grew faster than economists expected (+0.5%) compared to May, which suffered from an exceptional holiday due to the coronation of King Charles (-0.1%). . In April, growth was 0.2%.

The manufacturing sector had a particularly strong monthEspecially in autos and pharmaceuticals, noted Darren Morgan, director of economic data at the ONS. Construction benefited from strong activity, as did hotels and restaurants due to the warmer weather in June. “The measures we are taking to fight inflation are beginning to bear fruitFinance Minister Jeremy Hunt added:The Bank of England now predicts we will avoid recession“.

The UK has been battling a cost-of-living crisis for months, fueled by inflation of 7.9% in June, the highest in the G7. “The UK is the only G7 country whose key GDP measure has yet to recover to its pre-Covid peak.“, notes research firm Capital Economics.

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