Economic bounceback may be under way but Reeves cannot afford to relax

Growth of 0.3% is a positive sign but the chancellor still has major difficulties to confrontUK economy posts 0.3% growth in three months to JuneBusiness live – latest updatesBritain’s economy has defied the doomsayers. After growing strongly in the first quarter this year, it expanded again in the three months to June – and not by the measly 0.1% forecast by City economists, but a respectable 0.3%.The latest data shows a 0.4% expansion in June alone as manufacturing recovered its mojo. Meanwhile, the construction sector, hit by a slowdown in new projects, turned its hand to repairs and maintenance, reversing a fall in May to post a solid 1.2% growth rate over the second quarter. Continue reading...

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