New official data reveals the UK economy expanded more strongly than initially reported in the second quarter, with household income per person rising faster than expected between January and June. The upward revision to growth figures highlights economic resilience amid ongoing geopolitical tensions in the Middle East, which have persisted for over seven months. Economists and policymakers will closely watch the figures ahead of the upcoming budget, as they signal stronger consumer spending and potential fiscal implications. The adjustments suggest a more robust recovery than previously assumed, though challenges may remain in sustaining momentum.
Boost for John Healey before budget as GDP figure shows UK economy grew faster than first estimated in second quarterBusiness live – latest updatesUK household income grew at a stronger pace than previously estimated during the first six months of the year, according to revisions of official data.The rise in income per head to 1.1% between January and June followed an increase in the level of economic growth that illustrated the resilience of the UK economy since the outbreak of hostilities in the Middle East more than seven months ago. Continue reading...
