UK Q2 GDP Revised Up to 0.5% Amid Service and Construction Gains

The latest National Accounts release revised UK GDP growth for the April-June period to 0.5%, up from the previously reported 0.4%. The uplift reflects a 0.6% rise in services activity and an 0.8% increase in construction, offset by a 0.1% contraction in production. ONS director Liz McKeown said the figures incorporate improved measurement and new data, especially for services.

At the same time, the ONS trimmed its estimate for overall 2025 growth, noting a slightly lower annual rate. The stronger Q2 performance means the economy is marginally larger than earlier estimates, providing Chancellor John Healey with a more positive context ahead of the budget in four weeks. Household saving rates also edged up to 8.8% in the quarter.