LONDON — The U.K. economy continued to flatline in July on a month-on-month basis, flash figures published from the Office for National Statistics showed Wednesday.
Britain's economic growth was up 0.5% in the three month to July, slightly below economist expectations and the 0.6% recorded in the second quarter ending in June.
The U.K. economy had recorded modest but steady expansion almost every month so far this year, having emerged from a shallow recession at the start of the year.
Finance Minister Rachel Reeves said the print left her "under no illusion" of the challenges faced by the U.K. economy.
But she added that further movement in interest rates anticipated from the Bank of England could help ease wider growth pressures.
Persons:
Liz McKeown, Keir Starmer's, Rachel Reeves, Reeves, Jeremy Hunt, Lindsay James, James
Organizations:
Office, National Statistics, Gross, Reuters, Labour, Conservative, Quilter Investors, Treasury, Bank of England
Locations:
flatline, U.K