Britain’s economy expanded by 0.3% in the April-to-June period, according to the Office for National Statistics (ONS) on Tuesday. The figure was unchanged from the initial estimate and in line with forecasts from a Reuters poll of economists.
The UK was the fastest-growing economy among the G7 nations in the first half of this year. However, part of that growth came from one-off factors, such as a surge in exports before U.S. import tariffs took effect. Looking ahead, the Bank of England expects UK growth in 2025 to slow to just 1.25%.
Revised figures showed Britain’s GDP in the second quarter was 1.4% higher than a year earlier, up from an initial estimate of 1.2%. On a per capita basis, economic output rose 0.9% year-on-year.
For the whole of 2024, GDP growth remained unrevised at 1.1%.
The data also highlighted a wider current account deficit. Between April and June, the deficit totaled £28.94 billion ($38.8 billion), above the £24.9 billion expected in a Reuters poll. This was equivalent to 3.8% of GDP, compared with 2.8% in the first quarter of 2025.
($1 = £0.7443)
