Rolling coverage of the latest economic and financial news
ONS director of economic statistics Liz McKeown notes that there was “robust” growth in the three months to May.
The economy recorded robust growth in the three months to May, though the pace eased slightly as the latest two months showed a weaker picture.
Services drove growth across the three months with computer programming and advertising again leading the way, while the often-volatile pharmaceutical industry also performed well.
We have the right economic plan which has put the UK in a much stronger position than two years ago with the fastest growth in the G7 in the first quarter and the OECD agreeing that we have restored stability.
We’re forecast to be the fastest growing European G7 economy this year and next, inflation is steady, and for the first time since 2004, we are forecast to borrow less this year than the G7 average.”
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