UK economy grows by 0.4% in second quarter as some businesses helped by World Cup and hot weather – business live

Live, rolling coverage of business, economics and financial markets as GDP rises in June despite Iran war after stagnating in MayThe UK economy has set an impressive pace in the first half of the year. If it continues, GDP would grow by 2% this year.That would represent a strong year in recent terms (discounting the anomaly of the coronavirus pandemic).The UK economy showed no signs of stopping over spring. After a thumping start to the year, UK GDP expanded by 0.4% q/q, taking the annualised growth rate in the first half of the year to a scorching 2%. And for a second straight quarter, it looks like the UK will take top place in the G7 league table. Yet again forecasters will be forced to revisit their forecasts with another marginal upgrade looking likely for the year (to 1.1%).What happ