The British economy unexpectedly grew in the second quarter of the year largely as a result of a strong rebound in June when many businesses, particularly in the leisure sector benefited from the warm and settled weather.
FILE - People enjoy the sunny weather at a park in London, May 27, 2023. The British economy unexpectedly grew in the second quarter of the year largely as a result of a strong rebound in June when many businesses, particularly in the leisure sector benefited from the warm and settled weather, official figures showed Friday Aug. 11, 2023.
“The big picture is that the U.K. economy has expanded by just 0.4% since the start of 2022, the weakest growth in 65 years outside of a full-blown recession,” said James Smith, research director at the Resolution Foundation think tank. Over the past few months, the British economy has proven slightly more resilient than anticipated in the face of rising interest rates and multiple strikes across many sectors,in the early stages of their careers in England, who started their latest four-day walkout on Friday.
Higher interest rates help dampen inflation by making it more expensive for consumers and businesses to borrow to buy homes, cars or equipment. That also
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