UK recession 'can still be avoided' as GDP grows 0.2% in Q2

Q1 figure revised up to 0.3%

The UK economy grew by 0.2% in the second quarter of 2023, according to unrevised data from the Office for National Statistics.

The ONS also adjusted figures for Q1, resulting in an uplift to the original estimate of 0.1%, to 0.3%. Growth in Q2 was largely driven by a 1.2% increase in the production sector, experiencing rises in nine out of its 13 sub-sectors, while also reflecting falling input prices across the three-month period relieving pressure on manufacturers. eToro: Recession becomes top concern for UK retail investors Chancellor of the Exchequer Jeremy Hunt said the ONS data published today (29 September) proved the doubters wrong about the UK economy's ability to recover from Covid-19. "We wer...