The British economy grew somewhat surprisingly in the second quarter, buoyed by a strong performance in June, but it remains the only developed economic region that has not yet reached its pre-crisis level at the end of 2019, according to official figures published on Friday. from the data.
The economy grew 0.2 percent in the second quarter (compared to the same period in 2022), compared to the consensus in a Reuters poll of economists on stagnant value.
The performance was supported by half a percent growth in June month over month, which beat all expectations in a Reuters survey.
“The measures we have taken to fight inflation are starting to have an effect, which means we are laying the strong foundations we need to grow the economy,” said Chancellor of the Exchequer Jeremy Hunt. As a result of the news, the pound sterling began to consolidate, with the pound trading at $1.27 on Friday morning.
Although Great Britain has so far avoided a recession, unlike the Eurozone, figures have confirmed that the island nation’s economy has performed poorly since the start of the Covid-19 pandemic.
