The UK’s economy grew faster than expected in July, easing fears that it could fall into recession.
The economy grew 0,3 percent in July, the UK’s official statistics body said, helped by the dominant services sector.
Growth was flat over the three months to July, but this was an improvement on the 0,2 percent contraction seen in the April to June quarter.
This contraction, coupled with some weak business surveys, raised concerns the UK was heading for recession.
An economy is generally deemed to be in recession if it contracts for two quarters in a row. — BBC.