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UK GDP grew by 0.4% in the second quarter, according to ONS data

The British economy improved during the second quarter, with figures from the Office for National Statistics showing GDP grew by 0.4%.

Sterling, which had stuttered in recent days over talk of a no-deal Brexit, moved only slightly downwards in response to the data.

Even so, news that the economy recovered from its winter slump is likely to reassure Bank of England policymakers who last week raised interest rates to a new post-financial crisis high of 0.75% despite concerns about the approach of Brexit.

The FTSE 100 fell despite the slide in sterling which usually supports the exporter-heavy index. Mining stocks fell amid more US threats of sanctions against Russia.

 



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