UK Economy Defies Forecasts with 0.4% Growth in July

The UK economy showed signs of resilience in July by growing 0.4%, surpassing forecasts for no growth. This expansion follows a 0.3% increase in June, according to official figures from the Office for National Statistics.

The services sector was the largest contributor to this growth, increasing by 0.4%. Information technology and computer programming were significant contributors to this expansion, with AI-related technologies playing a key role.

Manufacturing output rose 0.9% in July, while construction increased by 0.1%. Over the three months to July, the economy grew 0.4%, matching the previous quarter's expansion.