{"id":26884,"date":"2025-08-14T07:57:38","date_gmt":"2025-08-14T06:57:38","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/south-west\/news\/26884-a-better-june-sees-gdp-growth-beat-expectations\/"},"modified":"2025-08-14T08:01:44","modified_gmt":"2025-08-14T07:01:44","slug":"a-better-june-sees-gdp-growth-beat-expectations","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/south-west\/news\/26884-a-better-june-sees-gdp-growth-beat-expectations","title":{"rendered":"A better June sees GDP growth beat expectations"},"content":{"rendered":"<p>The UK economy grew by 0.3% in the second quarter, the latest ONS data has revealed, as a slow and mixed performance continues.<\/p>\n<p>Positively, a relatively strong June meant it beat pessimistic expectations of just 0.1% growth for April-June, and is good compared with post-Covid figures, which have only had four better quarters for growth since the start of 2022.<\/p>\n<p>However, it is a marked slowdown on the 0.7% figure for Q1, the Government loses its boast of the UK economy being the fastest-growing in the G7, and 0.3% is never going to be a figure to excite economists or entrepreneurs.<\/p>\n<p>Chancellor Rachel Reeves described the Q2 figures as &#8220;positive&#8221; adding they are a &#8220;strong start to the year and continued growth in the second quarter&#8221;.<\/p>\n<p>Shadow chancellor Mel Stride responded by saying &#8220;any economic growth is welcome&#8221;, but blamed the Chancellor for creating &#8220;a \u00a350bn black hole in the public finances&#8221;.<\/p>\n<p>ONS director of economic statistics Liz McKeown said: &#8220;Growth slowed in the second quarter after a strong start to the year.<\/p>\n<p>&#8220;The economy was weak across April and May, with some activity having been brought forward to February and March ahead of stamp duty and tariff changes, but then recovered strongly in June.&#8221;<\/p>\n<p><a href=\"https:\/\/www.thebusinessdesk.com\/south-west\/news\/26539-bank-of-england-cuts-interest-rates-for-fifth-time-in-past-year\">The Bank of England&#8217;s Monetary Policy Committee last week cut interest rates to 4%<\/a>, and in its accompanying analysis also raised the impact of companies &#8220;front-loading&#8221; to get ahead of the turmoil created by incoming US tariffs. This meant orders were brought forward, slightly inflating growth in Q1 and consequently suppressing it in Q2.<\/p>\n<p>The impact of tax changes introduced in the Budget last autumn that came into effect in April, most notably national insurance increases, was also a factor.<\/p>\n<p>The City now expects the MPC to keep interest rates at 4% for the rest of this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>But impact of tariffs and taxes result in Q2 growth slower than Q1<\/p>\n","protected":false},"author":18,"featured_media":16692,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120782],"coauthors":[81],"class_list":["post-26884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-featured-story","tag-national"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A better June sees GDP growth beat expectations - 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