UK economy grows by 0.4% in second quarter as some businesses helped by World Cup and hot weather – business live

Live, rolling coverage of business, economics and financial markets as GDP rises in June despite Iran war after stagnating in May

The UK economy is estimated to be 1.2% bigger than it was a year ago.

Real GDP per person is estimated to have increased by 0.4% in the second quarter, up 1.0% compared with the same quarter a year ago.

I know people are worried about the impact of the conflict in the Middle East on their cost of living, which has been too high for too long and it has added pressure on British businesses.

This is an active, hands-on government, putting British interests first – giving breathing space to those feeling the strain, making our country more resilient and bringing hope back.