The UK economy grew more than initially estimated in the second quarter on robust consumption, revised data from the Office for National Statistics showed on Thursday. Gross domestic product grew 5.5 percent sequentially instead of 4.8 percent growth estimated previously. The expansion has reversed first quarter's 1.4 percent contraction.
Consequently, the level of GDP was now 3.3 percent below where it was prior to the pandemic at the end of 2019, revised from the previous estimate of 4.4 percent.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.