UK Final Q2 GDP Growth Revised Up to 0.5% Quarter-on-Quarter

The UK economy expanded by 0.5% quarter-on-quarter in the second quarter, revised upward from the preliminary estimate of 0.4%, according to final figures from the Office for National Statistics. On a year-on-year basis, growth was revised up to 1.4% from 1.2%, outpacing the 0.9% rate recorded in the first quarter, which previously saw 0.6% quarterly expansion. Growth was anchored by the services sector alongside a 1.7% gain in business investment and a 0.3% rise in construction, while production was flat. The revision provides modest support for the British pound.