The UK’s economy grew by 0.6% between April and June as it continued its recovery from the recession at the end of last year.
The latest figure was in line with forecasts and follows a 0.7% increase in the first three months of this year.
Growth was led by the services sector, in particular the IT industry, legal services and scientific research. Services are the biggest contributor to the UK’s economy, far outstripping manufacturing and construction, both of which saw output fall between April and June.
I mean if everyday things like food and rent are still too expensive then it’s not really recovering. I don’t really see how the pursuit of endless growth can possibly be good for regular people.
Out of interest, what GDP increase figures would lead to an increase in living standards?🤔
Wage rises in excess of cpi, generally. Gdp increases can be meaningless on an individual basis. For instance, Australia has had years of gdp rises, which are just due to increased population size. The average person has less money as population rising faster than gdp. It’s a per capita recession, but not a technical recession.
I want to know why the government still isn’t bringing out the big guns like Mr Blobby to inspire the nation back into prosperity.
Wow, with this impressive growth we will be recovered by only 2300!
