Economic growth in the UK accelerated in July


The UK economy in July 2018 increased by 0.3% compared with June, helped by the recovery of consumer spending and construction on the background of warm weather, according to the Office for National Statistics. For the period of three months to July, the UK's GDP increased by 0.6% compared to the previous three months and by 2.4% in annual terms, due to the growth in retail and service sector production. In addition, the statistics showed that the growth in exports in July exceeded the increase in imports. The deficit of the UK trade balance with other countries of the world has decreased to 10 billion pounds sterling from 10 billion 700 million pounds in June.

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