ONS data show UK Q2 GDP final rose 0.5% QoQ, revised up from a preliminary 0.4%; Q1 was 0.6%. H1 output was notably stronger than expected. Growth displayed resilience prior to recent rises in energy prices and borrowing costs. The Middle East conflict has renewed upward pressure on inflation, but consumer spending remained firm over the summer. ONS said stronger services growth leaves the economy slightly larger than previously estimated. The ONS added the outlook has deteriorated in recent wee

ONS data show UK Q2 GDP final rose 0.5% QoQ, revised up from a preliminary 0.4%; Q1 was 0.6%. H1 output was notably stronger than expected. Growth displayed resilience prior to recent rises in energy prices and borrowing costs. The Middle East conflict has renewed upward pressure on inflation, but consumer spending remained firm over the summer. ONS said stronger services growth leaves the economy slightly larger than previously estimated. The ONS added the outlook has deteriorated in recent weeks and firms and households are likely to face increased pressure in H2.