Revised GDP data paints weaker picture for UK economyStaff Writer | September 28, 2018
UK economic growth was confirmed at 0.4% for the second quarter but first-quarter growth was revised down by the Office for National Statistics on Friday.
Britain Business investment fell by 0.7% in the second quarter
Business investment fell by 0.7% in the second quarter and has now fallen in each quarter of the year so far.
Growth in household spending was revised up to 0.4% from 0.3% but net trade exerted a large drag of 0.6 percentage points on overall GDP growth.
Growth was driven by the services sector, which increased by 0.6%, following relatively subdued growth of 0.3% in the first quarter.
First-quarter growth was revised to 0.1% from 0.2% after more comprehensive VAT turnover data was incorporated into the calculations, painting a weaker picture for construction output. ■