Britain’s economy staged a modest rebound in July after contracting in June, but growth was held back by the searing heatwave and pressure from rocketing prices.
The Office for National Statistics (ONS) said gross domestic product (GDP) rose by 0.2% between June and July following a drop of 0.6% in the previous month, when output was affected by the Queen’s Platinum Jubilee bank holiday.
But July’s growth was lower than the 0.3% expected by most economists and still leaves the economy at risk of dropping into a recession as the cost-of-living crisis hits households and businesses.
