UK Economic Growth Picks Up

Economy bounces back following Beast from the East cold snap

The British economy improved during the second quarter, with figures from the Office for National Statistics showing GDP grew by 0.4%.

Rolling three-month growth increased by 0.4%, up from 0.1% in the three months to May. However, growth still remains below the quarterly average for 2017 of 1.1%.

United Kingdom economic growth doubled in the second quarter driven by stronger growth in both services and construction sectors, first quarterly estimate from the Office for National Statistics showed Friday.

But news that the economy recovered from its winter slump is likely to reassure Bank of England policymakers who last week raised interest rates to a new post-financial crisis high of 0.75 percent despite concerns about the approach of Brexit.

Laith Khalaf, senior analyst at Hargreaves Lansdown, said the Bank of England will be relieved at the figures, avoiding "egg on its face" after its decision to raise interest rates last week. This was driven by a 0.9% fall in manufacturing and a 2.7% fall in energy supply, while mining and quarrying, and waste management production both rose by 0.7% and 1.9% respectively.

Jeffrey: Is ONS data reflecting "true" economic activity?

"Even with some acceleration, the economy is far from its peak".

Parker Solar Probe launches on mission to 'touch the sun'
The mission will last 6 years and 11 months, and in that time the Parker probe will orbit the sun 24 times. The entire project cost R20.5-billion and will continue until 2025.

Kylie Jenner’s Baby Stormi Is Basically A Model Already & She's Beyond Cute
Other famous faces at the party included models Bella Hadid and Cara Delevingne and singer Nicki Minaj. She shared the following stunning images of herself and Stormi , captioned with, " My heart ".

Koepka leads by two strokes after third round at PGA Championship
Woodland, even with the lowest 36-hole score in 60 years of stroke play at the PGA Championship, still had a long way to go. He's the first Utah resident to make the cut in all four majors in one year since Sandy's Mike Weir in 2008.

"However, it is not all doom and gloom".

However, putting a slight dampener on the results and limiting gains in the pound was an accompanying warning from the ONS suggesting that "the underlying trend in real GDP is one of slowing growth". Of course, Brexit-related uncertainties could intensify over the coming months, if the European Union negotiations stall or if Brexit turmoil results in a general election.

How can governments keep all the balls in the air?

Anthony Gillham, Quilter Investors head of investment, said: "There is an important distinction to be made here - the economy is growing faster than it did in the first quarter, but it is still playing catch-up". Over the medium term, United Kingdom growth has been thoroughly unspectacular, with the domestic economy expanding at a slower pace than most developed countries.

The Lira fell 5 per cent to a new all-time low against the United States dollar on Friday morning, accentuating these fears and unsettling the euro.

"The UK finds itself in a hard situation where the Bank of England is hiking rates to try and keep a lid on import costs that drive up inflation, but it is doing so against the backdrop of weak economic growth".

Related News:

  • Erdogan tells US: Turkey will find new friends

    Erdogan tells US: Turkey will find new friends

    Trump's "jubilation in inflicting economic hardship on its North Atlantic Treaty Organisation ally Turkey is shameful", he wrote . It is host to a critical part of the Western alliance's missile defence system against Iran. "It is a national fight", he said.
    NASA set to launch historic 'touch the Sun' spacecraft

    NASA set to launch historic 'touch the Sun' spacecraft

    Eugene Parker predicted the existence of solar wind 60 years ago. "We will fly by Venus seven times throughout the mission". As soon as the red pressure alarm for the gaseous helium system went off, a launch controller ordered, "Hold, hold, hold".
    News Corp loses $1.4bn as paid subscriptions get a boost

    News Corp loses $1.4bn as paid subscriptions get a boost

    At the end of June, Foxtel had about 2.8 million subscribers, higher than a year ago mainly due to the launch of Foxtel Now. In Australia the ad revenue decline was more pronounced at 6%.
  • Spurs begin EPL season with entertaining win at Newcastle

    Spurs begin EPL season with entertaining win at Newcastle

    Some people make a drama in football and drama for me is another thing", Pochettino said. "Score or not score, I don't have doubts about this".
    All-hands search for Marine who went overboard near Philippines

    All-hands search for Marine who went overboard near Philippines

    The Marine's family has been notified, but the service is withholding his or her identification while the search is ongoing. The US 13th Marine Expeditionary Unit said a member, who was not named, may have gone overboard Thursday morning.
    New NCAA Policies Address Basketball's Integrity

    New NCAA Policies Address Basketball's Integrity

    The agents can cover minimal costs, such as meals and travel expenses related to gauging interest in professional opportunities. At least one prominent coach, Kentucky's John Calipari, wondered aloud as to how that will work.
  • Svitolina grounds Konta to keep title defense on course

    Svitolina grounds Konta to keep title defense on course

    Svitolina will now go on to face either Elise Mertens or Aryna Sabalenka. Last year, Svitolina won the canadian Premier 5, winning in Toronto.

    Greek teen Stefanos Tsitsipas reaches Toronto final

    The win over world No 3 Zverev looked unlikely when the 19-year-old dropped the first set and fell behind 2-5 in the second. Nadal got caught on the back foot in the first set against Cilic, who took the opener on his fourth chance.
    Koepka takes 2-shot lead at PGA Championship

    Koepka takes 2-shot lead at PGA Championship

    He was at 3-over par for the second round through nine holes and 4 over for the tournament, putting him in a tie for 111th. American Gary Woodland was leading the field with a daunting clubhouse total of -10 but there were birdies to be had.
  • New Zealand to ban plastic shopping bags by next year

    New Zealand to ban plastic shopping bags by next year

    The Carpenters Daughter offers recycled brown paper bags and makes her own cloth bags out of fabric scraps. Momentum is growing on tackling the huge amount of waste caused by single-use plastic bags.
    United States  airline worker steals plane, takes it for flight before crashing it

    United States airline worker steals plane, takes it for flight before crashing it

    He crashed the plane in a wooded area of Ketron Island , 25 miles south of Seattle-Tacoma International Airport. North American Aerospace Defense Command scrambled two F-15 fighter jets to deal with the Horizon Air plane.
    Maurizio Sarri not aiming to repeat Napoli formula at Chelsea

    Maurizio Sarri not aiming to repeat Napoli formula at Chelsea

    Forming part of a three-man central defence which switched to five when Chelsea were attacking, Kongolo helped keep Alvaro Morata, Pedro and Willian quiet.


Most liked

White House Says Omarosa’s Book Is ‘Riddled With Lies’
She's a lowlife". "It's sad that a disgruntled former White House employee is trying to profit off these false attacks", she said. Little did she know that she would become a likely candidate for that list after losing her position at The White House .

Halep to face Stephens in Montreal final
Halep was in control from the outset against a nervous-looking Barty, whose challenge was undone by a string of unforced errors. I played some slices". "She's the world No1 for a reason but I'm just going to go out there and try to get her".

Klopp: We are the Rocky to City's Drago
Find out by taking the 10 questions below. "We didn't reach anything so far". I think this club needs to have this ambition to win titles.

Chelsea Confirmed Lineup vs Huddersfield: Kepa, Jorginho make Premier League debut
Hazard appeared for the final 15 minutes, as Real Madrid continue to circle, and gave a reminder as to just why he is so coveted. Jorginho coolly converted the penalty. "We started very well, on the front foot, and then the first goal came out of nothing".

No-deal fear pushes pound to a record low
Euro and pound banknotes are seen in front of BREXIT letters in this picture illustration taken April 28, 2017. The pound is also down 0.58% against the euro and down 0.86% against the Japanese yen .

CBA Continue Blockchain Innovation
Since 1986, the bank has raised about $60 billion Australian dollars from investors worldwide. The World Bank issues between $50-$60bn annually in bonds for sustainable development.

Japan's economy rebounds as consumers, companies spend more
The United States has pressured Japan for a bi-lateral free-trade agreement as a way to lower the USA trade deficit. Many industries face labour shortages due to a rapidly ageing population.

I fear being fined if I speak out, says Pogba
Pogba played a key part in France's successful World Cup campaign and was therefore allowed to miss most of United's pre-season. We have to wait until the end of November to understand if we can fight for the title". "It's a different team, obviously".

2nd Unite the Right rally happening in Washington Sunday
Washington police chief Peter Newsham said firearms will be prohibited at the rallies, even for gun owners with legal licenses. A year ago the goal of the rally on August 12, 2017 was to protest city plans to remove a statue of General Robert E.

Study Shows Average Consumption of Salt Good for Heart Health
The Human body needs essential nutrients such as sodium and many vitamins, but the ideal amount remains subject to debate. The team used data from the ongoing Prospective Urban Rural Epidemiology (PURE) study for the analysis.

Actress Sean Young wanted for questioning in NYC burglary
The items are said to be worth about $12,000 (£9,400). "Drew" in 2011 in which she discussed her battles with alcohol. She infamously ambushed Tim Burton in the '90s, hoping to be cast as Catwoman (the role went to Michelle Pfeiffer).

England vs India 2nd Test, Day 3: Hosts lose openers Jennings, Cook
Play resumed with England , 1-0 up in a five-match series after their 31-run win at Edgbston last week, yet to bat. Together with Jonny Bairstow , Woakes soon set about turning that around.

Authorities Investigate the Circumstances Surrounding 'Suicidal' Employee Who Stole a Plane
There is now a background check being done on him to see if a possible motive can be found. [The plane did] a complete loop. He flew it for an hour, followed by two armed F-15 jets from OR that the military scrambled , before he crashed.

Mexico's Guajardo says 'a lot' of work done through night on NAFTA
It is unclear why they refused to talk about the almost two-hour meeting with U.S. Bloomberg reported last week that the US and Mexico are nearing a deal on autos.

Victor Moses revels in 'great' Chelsea start against Huddersfield Town
Huddersfield boss David Wagner accepted his side were roundly outplayed, highlighting defensive errors as contributing to a heavy home loss.