UK GDP growth decelerated to 0.3% in Q2, down from 0.7% in Q1.
Although a slowdown was widely anticipated, this was not as strong as initially feared.
Among the components of GDP, business investment was a key contributor to slower growth, reflecting the headwinds of increased costs and heightened uncertainty faced over the spring. Household consumption growth also slowed on the quarter, with tourist spending having a notable downward effect.
Looking ahead, Cebr expects the UK economy to expand at a similar pace for the rest of the year.
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