UK Economic Growth in Q1 Was Higher Than First Estimated, Reports ONS

Updated data released by the Office of National Statistics (ONS) on Friday show a stronger economic recovery in the first fiscal quarter than originally thought. Between January and March, the UK’s economy grew by 0.7 percent, according to the ONS. In May, the non-ministerial government department estimated the growth to be 0.6 percent. The updated figures were driven by improved growth in the services sector, with professional services, transport, and storage sectors all delivering marginally higher performances. “In output terms, services grew by 0.8% on the quarter with widespread growth across the sector; elsewhere the production sector grew by 0.6% while the construction sector fell by 0.6%,” the ONS said....