Latest UK Growth figures
Today the ONS confirmed the UK economy grew in the second quarter of 2023, showing our plan to grow the economy is working.
- The latest GDP figures show short-term challenges should not obscure our long-term prospects as the UK economy grew by 0.5 per cent in June.
- The fact the UK grew by 0.2 per cent in the second quarter of 2023, as well as avoiding a recession earlier this year, shows our economy is more resilient than many feared. We are not out the woods yet as inflation, exacerbated by Putin’s illegal war, is slowing growth across the world, with the IMF predicting much of the world economy will be in recession this year.
- There is more to do but if we stick to our plan to halve inflation this year, we can be confident of having amongst the best prospects for growth of anywhere in Europe, while protecting the most vulnerable as we manage global economic pressures.