UK Economy Grows in 3 Months Pre-Brexit

GDP grew 0.6% in the three months to the end of June after rising 0.4% in the first quarter of the year. This was the 14th consecutive quarter of positive growth

Morningstar News Team 26 August, 2016 | 11:17AM
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The UK economy expanded at a faster pace than previously thought in the three months prior to the Brexit vote, the Office for National Statistics has revealed.

Gross domestic product grew 0.6% in the three months to the end of June after rising 0.4% in the first quarter of the year. This was the 14th consecutive quarter of positive growth since the first three months of 2013. On a yearly basis, GDP rose 2.2%.

Nancy Curtin, chief investment officer at Close Brothers Asset Management said that while the figures were an improvement on the first quarter, growth in the British economy was subdued as businesses put spending decisions on hold ahead of the EU membership referendum.

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