The UK economy expanded more than expected in the second quarter but the overall growth softened as the US frontloading had propelled growth at the start of the year. Gross domestic product expanded 0.3 percent in the second quarter largely driven by growth in the service sector, the Office for National Statistics reported Thursday. Although the rate was stronger than the expected growth of 0.1 percent, it eased markedly from 0.7 percent in the first quarter.
"Some activity was brought forward to February and March ahead of changes to stamp duty in April and announced US tariff changes," the ONS said. Services output rose 0.4 percent from the first quarter and construction climbed 1.2 percent. But production reported a 0.3 percent fall.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.