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UK economy bounces back in second quarter

Britain's economy was boosted by a rebounding services sector in the second quarterGross domestic product grew 0.7 percent between April and June, the Office for National Statistics (ONS) said in an initial estimate. The dominant services sector helped the economy improve on a disappointing first quarter when GDP increased by just 0.4 percent, following 0.8-percent expansion in the fourth quarter of last year. “After a slowdown in the first quarter of 2015, overall GDP growth has returned to that typical of the previous two years,” said ONS chief economist Joe Grice.

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