CashNews.co
LONDON: Britain’s economy grew 0.6 percent in the April-June period, a slight slowdown compared with the first three months of the year, official data showed on Thursday.
Gross domestic product had expanded by 0.7 percent in the first quarter of 2024, the Office for National Statistics said in a statement.
The data covers the period just prior to Britain’s general election in early July, which resulted in the centre-left Labour party winning power on a promise to grow the country’s economy by a sizable amount.
UK economy returns to modest growth at start of 2024
“The new government is under no illusion as to the scale of the challenge we have inherited after more than a decade of low economic growth and a £22 billion ($28 billion) black hole in the public finances,” finance minister Rachel Reeves said Thursday in reaction to the latest gross domestic product figures.
“That is why we have made economic growth our national mission and we are taking the tough decisions now to fix the foundations, so we can rebuild Britain and make every part of the country better off.”