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The United Kingdom's gross domestic product (GDP) grew 0.5 per cent in the second quarter (April-June) of 2026, according to the latest estimate by the Office for National Statistics (ONS).
The latest growth figure is 0.1 percentage points higher than the initial estimate of 0.4 per cent. It follows a 0.6 per cent increase in GDP in the first quarter (January-March) of 2026. The ONS said GDP in the second quarter was 2.0 per cent higher than in the fourth quarter (October-December) of 2024, revising up its earlier estimate of 1.9 per cent. For the full year 2025, real GDP growth was estimated at 1.2 per cent, down 0.1 percentage points from the previous estimate. Nominal GDP increased by 0.8 per cent in the second quarter, unchanged from the earlier estimate, and was 3.8 per cent higher than in the same quarter a year earlier. Real GDP per head also increased by 0.5 per cent in Q2 2026 and was 1.2 per cent higher compared with the same period in 2025. Household finances also improved during the quarter. Real household disposable income per head rose by 1.0 per cent in Q2, recovering from a 0.8 per cent decline in the previous quarter. The household saving ratio increased by 0.2 percentage points to 8.8 per cent in Q2, mainly due to an increase in non-pension saving. Meanwhile, the implied GDP deflator, a broad measure of price changes across goods and services in the domestic economy, increased by 2.4 per cent in Q2 compared with the same quarter a year earlier. The UK's borrowing position with the rest of the world also improved marginally during the quarter. As a percentage of GDP, it fell to 2.8 per cent in Q2 from 2.9 per cent in the previous quarter. (ANI)
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