UK economic output revised up to show stronger Q2 growth

LONDON, Sept 30 (Reuters) - ‌Britain's economy ​grew ​faster than previously thought in the second quarter, with positive signs from household finances and ‌business investment that could encourage finance minister John ⁠Healey as he prepares October's budget.

Economic output expanded by 0.5% ‌in the April-to-June period, the ‌Office for National Statistics said on Wednesday.

The reading was slightly stronger than a preliminary estimate for 0.4% ​growth in gross domestic product. Economists polled by Reuters had expected the 0.4% rise to be ⁠confirmed.

Britain's economy was the fastest growing among the Group of Seven large ​advanced economies in the first half of 2026, the ONS data showed.

Real household disposable income ​per head rose by 1.0% ‌in quarterly terms during the three months to June, the biggest jump since the ⁠end of 2024 and following a 0.8% drop in the first quarter.

The ONS also revised up second-quarter business investment ⁠growth to an annual rate of 5.2% from an initial estimate ​of 0.8%.

Separate balance-of-payments data showed Britain ran a smaller current account deficit than economists had expected in the second quarter, ‌at £19.9 billion ($26.4 billion) versus a consensus of £24.7 billion.

Excluding precious metals trade, the deficit closed ‌to 1.4% of economic output, the smallest such reading ⁠in five years and ‌helped by strong ​growth in services exports.

($1 = 0.7547 pounds)

(Reporting by Suban Abdulla and Andy Bruce; Editing by Kate ‌Holton)

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