Economic update

The latest official estimate for Q2 2018 growth in UK GDP revealed that the UK economy grew by 0.4% in the second quarter of 2018, unrevised from the previous estimate. UK business investment was revised to drop of 0.7% in Q2, down from the previous estimate of a 0.5% increase. The latest UK balance of payments data revealed that the UK’s current account deficit (the gap between what the UK earns and spends)ail rose to 3.9% (£20.3 billion) of UK GDP, up from 3.0% (£15.7 billion) in Q1 2018 - the widest deficit since Quarter 2 2017.

 

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