UK GDP is still estimated to have fallen by 0.2% in the second quarter after an upwardly revised rise of 0.6% in the first quarter of this year. This volatility largely reflects Brexit timing effects and the underlying trend is still for modest GDP growth at an average of around 0.2% per quarter, or just under 1% per year. Early indicators are that growth continued at a similar modest rate in the third quarter.
Household spending has moderated somewhat to an average of around 0.3% per quarter over the past year, but has remained consistently positive, supported by continued jobs growth and increased real earnings. But total investment in the economy has been much more volatile, falling in four of the past six quarters as businesses remain cautious about investing in the face of Brexit-related uncertainty and a slowing global economy.
UK growth rate revised higher thanks to Brexit stockpiling – business live – The Guardian