World Economy

UK Growth Accelerates

UK Growth AcceleratesUK Growth Accelerates

UK economic growth accelerated in the second quarter as business services and finance strengthened and North Sea output surged. The 0.7% increase in gross domestic product marked a 10th straight expansion and followed a 0.4% advance in the previous three months. It was in line with the median forecast in a Bloomberg survey. The report suggests the recovery remains lopsided and led by the dominant services industry, where growth accelerated to 0.7%. While oil and gas helped industrial output rise 1% on the quarter, the most since the end of 2010, manufacturing declined 0.3%. Construction was unchanged.