Economy perks up

The UK economy picked up in the second quarter of the year, according to official figures.

The economy, as measured by gross domestic product (GDP), is estimated to have increased by 0.7% in the April-June quarter of 2015 compared with 0.4% growth in the first quarter.

Output increased in two of the main industrial groupings within the economy: services increased by 0.7% on the previous quarter when there was 0.4% growth and production increased by 1.0% against 0.2%.

Manufacturing output, part of the production, is estimated to have fallen by 0.3% in the second quarter on the previous quarter, after just 0.1% growth in the first quarter.

The Office for National Statistics said that GDP was 2.6% higher in second quarter, compared with the same quarter a year ago. 

www.ons.gov.uk/ons/dcp171778_412372.pdf