Business news live: UK economy grew 0.3% in second quarter but production in damaging decline

Now we return to one of our economic experts who have overhauled the data, including accounts showing household savings and expenditures, not only these revised GDP figures.

This shows that households provide a little more savings and are careful about their personal financial situations, given uncertainty on the interior and a number of negative economies on the interior.

“Now the biggest question is that speculation about the budget will not weaken the trust of the budget,” he said.

“Title growth remained at a rate of 0.3% in the second quarter. However, the savings rate already rose from 10.5% to 10.7%. This suggests that the consumer attracted the attention of the consumer after the consumer saving after the tax and tariff increases.

“When we look forward, the second half of the year will be more difficult than the first six months. The combination of inflation to a 4% and a weakened labor market means that real wage growth will not slow down.

“Wildcard is how much speculation about tax increases in the coming budget will increase the consumer and commercial confidence. The risk is the repetition of last year and the effective plain lines of growth in the second half of the year. In general, we expect a growth of approximately 1.3% this year.”

Return to economic data and we have figures showing the industrial areas that contribute to a total growth of 0.3% from ounce.

While information and communication services grew by 2.5 percent, human health and social service activities made the second biggest contribution to the services with an increase of 1.2 percent.

Pharmaceuticals in production easily contributed to the growing leader, but production fell by 0.8 percent in general.

This will be the most important concern for Reeeles and Co, which cannot make production and manufacturing fall.

Nine of the 13 subsections in production, including metals, production and repair and food, beverages and tobacco, have fallen.

For now, in addition to the economic data of the UK (although it is absolutely related), the British Retail Consortium (BRC) and Nielseniq’ten launched figures today continue to increase.

Annual shop price inflation rose to 1.4 percent in September.

This increased from 0.9 percent in August, but food price inflation remained the same at 4.2 percent after increasing for most of this year.

Other non -food products were lower than late price than a year ago, but last month returned to almost 0.1 percent lower.

BRC General Manager Helen Dickinson said: “Household shopping is increasingly expensive. The effect of both global factors and higher national insurance and wage costs on retailers and supply chain emerges in the prices of consumers.”

As stated, there is no revision in 2025 estimates, but there are several changes for last year.

Essentially, the economy grew less than expected at the beginning of 2024, but more than expected.

“It is estimated that annual growth in 2024 as a whole is an increase of 1.1% in 2024,” Onk said.

This graph should help to display it visually.

Rachel Reeves and the rest of the government are desperate for gearing of economic growth into gear, but as chancellor pointed out yesterday, there were quite large external factors to fight this year.

However, there were some of his own productions.

Ones points to the task as a major reason for the decline in GDP growth between the first and second quarters of the year, because people go through some agreements, including home purchases to overcome the increase.

Today’s statements, in part of the step decline, “some activities in February and March 2025, in April before the stamp tax changes before and to some extent announced the US tariff changes,” he said.

Just to be open – these numbers published today are not “new” – larger controls and ounces after minor changes in the data on each set.

They usually revise the total percentages up or down to give a more real reading based on data that can be processed on a strict return for the first readings given in the middle of the moon.

It does not contain any changes for 2025, but there are small changes that we will detailize for a moment for last year.

Ons Economic Statistics Director Liz McKEANN, who explained the changes, said:

“Today’s figures include the usual inclusion of updated and improved data resources, as well as improvements in our economic measurement, including better information about research and development and the activities of complex multinational companies.

“The growth of 2024 as a whole was not taken back, but these new figures show that the economy grew slightly less than our first predictions at the beginning of last year, but performing better in the following quarters.

“For 2025, the three -month growth rates were not recovered.

“In the last quarter, we have seen a slight decrease in the production of services faced with the consumer despite the increase in the savings rate of households, little growth in consumer expenditures and generally growth.”

Ones published the major accounting figures for England in the second three months of the year, in April -June – 2nd quarter.

Among the title figures, the chief, the confirmation that the economy grew by 0.3 percent at that time, a significant slowdown from the first quarter of 2025 at 0.7 percent.

Perhaps the second quarter last The year was also higher than 0.6 percent.

In the morning, they all continue to once again from the usual companies that focus on usual companies and from the stock market updates to more economic data to tell how England is progressing to the budget.