UK GDP grows by 0.6pc in second quarter

 
Suzie Neuwirth

UK GDP grew by 0.6 per cent in the second quarter of 2013, in line with analysts’ expectations, according to new figures from the Office for National Statistics today.

The services sector grew by 0.6 per cent, while construction increased by 0.9 per cent quarter-on-quarter.

While the figures are an encouraging sign for sustained growth of the UK economy, it is still estimated to be 3.3 per cent below the peak in the first quarter of 2008, before the financial downturn.

“The data won’t alter the prospect of super-easy money being in place for a super-long time, and any sell-off at the front end of the sterling curve is an opportunity to buy against the US,” said Kit Juckes, analyst at Societe Generale.