UK economy growth slows to 0.4 percent
The UK economy grew by 0.4% in the second quarter of 2026, slowed down from a 0.6% growth in the first quarter, but still remained stronger than usual rates. This growth was primarily driven by the services sector, which increased by 0.4%, while industrial production declined by 0.2% and the construction sector by 0.1%. Surprisingly, the economy also grew in June by 0.3% compared to May, resulting from a temporary dip in energy prices and companies capitalizing on good weather and sporting events, despite forecasts that monthly growth in June would not occur. The statement indicates that the growth during the first half of the year was robust, but a slowdown is expected in the coming months amidst economic challenges, with the new Prime Minister reaffirming his commitment to reducing living costs and tackling the inflation crisis.
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