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UK Economy Stronger Than Expected After Coronation Holiday

2023-08-11 14:19
The UK economy grew more strongly than expected in the second quarter after activity roared back in June
UK Economy Stronger Than Expected After Coronation Holiday

The UK economy grew more strongly than expected in the second quarter after activity roared back in June following an extra bank holiday for King Charles III’s coronation.

Gross domestic product rose 0.2% from the first quarter, the Office for National Statistics said Friday. The Bank of England had expected a 0.1% expansion. Output in June jumped 0.5%, more than double the 0.2% pace expected by economists.

Manufacturing and construction output were both stronger than expected in June.

--With assistance from Mark Evans and Joel Rinneby.