New figures released by the ONS today confirm that Britain’s economy has continued to grow, with GDP rising by 0.7 percent.
Economic news is good across the board today, with figures released by Confederation of British Industry confirming that growth of British services companies also surged in August.
The data is another sign that Britain’s economic recovery remains strong. Rain Newton-Smith, director of economics at the CBI, said in a statement:
“After a weaker start to the year, the UK services sector is now seeing healthy growth across the board with firms becoming more profitable, driven by a surge in business volumes.
“Companies are still looking to invest in people and capital, especially in IT which will help them exploit new technology and boost productivity.”
YouGov’s Consumer Confidence survey results also show that Britain’s consumer morale has risen to match June’s 15 year high.
Stephen Harmston, head of YouGov Reports, told Reuters:
“The early weeks of this month saw consumer confidence reach a highpoint for the year. However, the market tremors over the past week have been felt by people in the UK and we have seen a clear drop-off in confidence as a result.”
