UK economy posts surprise second-quarter growth as households kept spending

LONDON — The U.K. system bushed expectations with 0.2% maturation successful the 2nd quarter, boosted by household consumption, the Office for National Statistics said Friday.

Economists polled by Reuters had expected the U.K. GDP to flatline successful the 2nd quarter, aft eking retired astonishment maturation of 0.1% successful the archetypal quarter, arsenic the Bank of England's tightening of monetary argumentation and persistent ostentation began to constrain demand.

The system expanded by 0.5% successful June, beating a forecast of 0.2% growth. It follows monthly GDP maturation of 0.1% successful May and 0.2% successful April.

Output was bolstered by 1.6% maturation successful manufacturing and 0.7% successful accumulation successful the 2nd quarter, portion services grew by 0.1%.

The ONS noted beardown maturation successful household and authorities depletion successful presumption of expenditure. Both faced terms pressures successful the quarter, though this moderated from the erstwhile three-month period.