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UK economy grew less than first thought GDP figures show – what it means for your money

THE UK economy grew less than first thought, revised GDP figures show.

Gross Domestic Product went up by 0.5%, not 0.6%, in the second quarter of this year, the Office for National Statistics (ONS) has said.

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The UK economy grew less than first thought, revised GDP figures show[/caption]

Growth was mainly driven by a rise in the services sector, but the manufacturing and construction industries industry dragged down the headline figure, according to the ONS.

It comes following GDP growth of 0.7% from January to March, which was revised up from 0.6% previously.

GDP measures the value of goods and services produced in the UK.

It also estimates the size and growth of the economy.

The fresh figures published this morning show that the UK economy continued its recovery from recession at the end of last year, just at a slightly slower pace than previously thought.

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