We offer a range of high quality accounting, financial and business services in and around Milton Keynes.

Official figures reveal boost in UK economic growth

13 Aug 2018

Figures published by the Office for National Statistics (ONS) have revealed a boost in UK economic growth.

The UK economy grew by 0.4% in the three months to June, the ONS revealed – a rise when compared to growth of 0.2% recorded in the first quarter of 2018.

Real household disposable income per head increased by 1.4%, representing its biggest increase since the fourth quarter of 2015.

However, the data also showed that the UK’s trade deficit widened by £4.7 billion during the three months to June, to reach £8.6 billion.

Meanwhile, the services sector grew by 0.5% during the second quarter of this year, and construction output increased by 0.9%. Industrial production, on the other hand, fell by 0.8%.

Commenting on the data, Martin McTague, Policy Chairman at the Federation of Small Businesses (FSB), said: ‘Lots of small retailers, pubs and restaurants will have seen sales rise in the past three months thanks to a good World Cup run and a royal wedding. But we need to remember that, over the long-term, these firms are facing a perfect storm of high employment costs and rising business rates.’

Register

Why not register to receive our monthly newswire? This is packed full of essential business news and handy tax tips to help save you money.

Learn more

Tax Calendar

Our handy tax calendar provides an overview of the key tax dates for your diary.

Learn more

Calculators

B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.

Learn more

Home | About us | Contact us | Logon | Register | Accessibility | Disclaimer | Help | Site map |

© 2024 B2B Business Advisors Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.