London: Britain's economy unexpectedly grew in June with gross domestic rising by 0.3%, official data showed on Thursday.Economists polled by Reuters had forecast zero growth in month-on-month terms compared with May.For the second quarter - covering the three months to the end of June - the economy grew by 0.4%, the Office for National Statistics said. The Reuters poll had pointed to a 0.4% expansion from the first three months of the year.Also Read: Ford to move production of some Lincoln models from China to USThe second quarter covered a period in British politics marked by uncertainty over the grip on power of Keir Starmer who eventually resigned as prime minister in July.Britain's new Prime Minister Andy Burnham has said his government will do what it can to lower costs for business against the backdrop of a "difficult financial outlook" and he has also pledged to address the cost of living for households.Also Read: Samsung, SK Hynix rally as Temasek investment report lifts chip stocksThe impact of the Iran war is expected to slow growth in the remainder of the year as rising energy prices weigh on companies and hit household budgets.However, a recent business survey showed some growth momentum remained among services firms in July.
UK economy unexpectedly grows by 0.3% in June, ONS says
Britain's economy saw unexpected growth in June, with gross domestic product rising. The economy expanded by 0.4% during the second quarter, exceeding forecasts. Keir Starmer resigned as prime minister amid political uncertainty during this period. New Prime Minister Andy Burnham pledged to lower business costs and address household expenses. The Iran war is expected to slow future growth due to rising energy prices.
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