Surprise economic growth exceeds expectations

New figures have shown that economic growth was stronger than expected in the second quarter of this year.
According to the Office for National Statistics (ONS), the UK economy grew by 0.6% in the three months to the end of June.
The ONS said that GDP growth was stronger than expected – and up from 0.4% in the first quarter of the year from January to March.
Strong growth across services, particularly in the beleaguered retail sector, car production and pharmaceuticals all played major roles.
On an annual basis, growth in the second quarter was a relatively respectable 2.2%.
They’re interesting statistics as the 0.6% second quarter figure for April to June ended just one week after the vote to leave the European Union.
Does this demonstrate that any uncertainty among the business community before the referendum was overstated or had a limited effect?
The third quarter figure for July to September will make very interesting reading.
Opinion remains split over the impact of Brexit in the short, medium and long term but many businesses are now looking at seizing the opportunities rather than focusing on the negatives.
This positive mindset and ‘can do’ attitude is a great characteristic of British business.
As leading firm of chartered surveyors and one of the most prestigious on the south coast, it is a characteristic we share.
For us it’s business as usual as we continue to expand and see demand increase for our comprehensive range of expert surveys and professional property related services.
You can read more about the latest growth figures on the excellent BBC business website at www.bbc.co.uk/news/business-36903164
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