Britain’s economy grew by 0.2% in the three months to June reversing the initial estimate of a 0.1% contraction, official figures show.
The upward revision of the second quarter GDP by the Office for National Statistics implies the UK is not currently in recession, as predicted by the Bank of England earlier this month.
Quarter of NHS trusts offering food banks to staff – Economy latest
A technical recession is when the economy sees two consecutive quarters of decline.
ONS chief economist Grant Fitzner said: “These improved figures show the economy grew in the second quarter, revised up from a small fall.
“They also show that, while household savings fell back in the most recent quarter, households saved more than we previously estimated during and after the pandemic.”
The ONS said was driven by upwards improvements for the health and financial sectors.
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