UK Economy Shows Weaker Than Expected Growth Over Spring

Britain’s economic growth was weaker in the spring months than previously estimated, although the revisions did little to change the overall picture for the past two years. Between April and June, GDP increased by 0.5 percent, revised down from an initial estimate of 0.6 percent. The Office for National Statistics (ONS) used additional data to report the revised GDP figures. It included new annual survey data, VAT returns, and updated information about the relative size of each industry for the first time. “However, after taking on these improvements, the quarterly growth path across the last 18 months is virtually unchanged,” said ONS Director of Economic Statistics Liz McKeown, in a statement....