UK economy grows between April and June but experts warn of challenges in coming months
JUST IN: UK economy grew 0.4% between April and June, though experts warn of challenges in the months ahead.
The UK economy grew 0.4 percent between April and June. Not bad, until you hear what did the heavy lifting.
Sunshine and football. The ONS says heatwaves and the World Cup kicking off in June packed out pubs and pushed growth along, and you can see the high streets were busy. Computer programming, advertising and pharma pulled their weight too. But May was quietly revised down to zero, and the quarter overall came in below the 0.6 percent from the start of the year.
Chancellor John Healey says the war in Iran is squeezing the cost of living and adding pressure on British businesses. The opposition says Labour's tax and borrowing spree left the economy weak before the shock even hit.
Here's the number that stings. Economists say inflation and unemployment are both set to rise in the months ahead. One put it plainly, we are not out of the woods yet.
This is Sara White, reporting for HIT.
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