United Kingdom's economy growth in the second quarter slowed to 0.5%, lower than expected. Market confidence declined to 0.3%.
The United Kingdom's economy grew by 0.5% in the second quarter, lower than the expected 0.6%, indicating that the momentum of economic growth is weakening after the Labor Party government took office.
United Kingdom's economic growth has been downwardly revised, posing a blow to Prime Minister Starmer.
The growth rate of the United Kingdom's economy in the second quarter was slower than expected, indicating that with the Labour Party coming to power, the process of economic recovery from recession has lost momentum. The UK Office for National Statistics announced on Monday that the country's gross domestic product grew by 0.5% in the second quarter, below the initial 0.6%. GDP grew by 0.7% in the first quarter. Economists had not expected an adjustment. These figures are a blow to Prime Minister Keir Starmer, who hoped to fulfill his promises to improve public services through economic growth. Starmer has pledged to increase the economic growth rate to 2.5%, far above the levels seen since the financial crisis and the pre-
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