UK Economy Grows by 0.6 Percent in Q2 2024

The United Kingdom's (UK) economy grew by 0.6 percent in the second quarter (Q2) of 2024, after the recession recorded in the second half of 2023. UK's Office for National Statistics (ONS) said on Thursday that the level of gross domestic product (GDP) remained unchanged in June while on an annual basis rose by 0.7 percent. The Bank of England raised its annual growth forecast for 2024 to 1.25 percent from 0.5 percent due to a stronger-than-expected start to the year and an expectation of 0.7 percent quarter-on-quarter growth in the three months to June. UK's economy has grown slowly since the COVID-19 pandemic, growing by only 2.3 percent between the fourth quarter of 2019 and the second quarter of 2024. Source: Qatar News Agency