Jump to contentAllNewsSportCultureLifestyleThe services sector drove UK growth (Reuters)Official figures from the Office for National Statistics show the UK economy grew by 0.4 per cent in July, defying economist expectations of zero growth. Growth was predominantly driven by a 0.6 per cent rise in the services sector, with increased adoption of artificial intelligence and computer programming making key contributions. Transport secretary Heidi Alexander welcomed the economic expansion as good news but emphasised that the government would not be complacent ahead of the mid-October Budget. The British Chambers of Commerce urged the Chancellor to support businesses in the upcoming Budget through tax cuts, energy relief, and reduced employer costs. Economists predict the Bank of England will maintain interest rates at 3.75 per cent at its next meeting despite ongoing global economic uncertainties. In fullUK economy unexpectedly grows 0.4% in July in boost for BurnhamMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
Surprise growth in UK economy during July – here’s why
Jump to contentAllNewsSportCultureLifestyleThe services sector drove UK growth (Reuters)Official figures from the Office for National Statistics show the UK economy grew by 0.4 per cent in July, defying economist expectations of zero growth. Growth was predominantly driven by a 0.6 per cent rise in the services sector, with increased adoption of artificial intelligence and computer programming making key contributions. Transport secretary Heidi Alexander welcomed the economic expansion as good news but emphasised that the government would not be complacent ahead of the mid-October Budget. The British Chambers of Commerce urged the Chancellor to support businesses in the upcoming Budget through tax cuts, energy relief, and reduced employer costs. Economists predict the Bank of England will maintain interest rates at 3.75 per cent at its next meeting despite ongoing global economic uncertainties. In fullUK economy unexpectedly grows 0.4% in July in boost for BurnhamMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
