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UK Economy Grows

ONS Report Shows That Activity In The UK Economy Grew By 0.9 Per Cent In The Second Quarter Of The Year, The Highest Quarterly Rate In Four Years.

However, the figures from the Office for National Statistics also showed that the net rate of return for UK private non-financial corporation’s remained broadly unchanged, at 11.8 per cent compared to 11.9 per cent in the previous quarter.

The ONS believes this suggests that although gross operating surplus, including alignment adjustment – a measure of profits – grew by 3.1 per cent in the last quarter, the amount of capital used grew at a similar rate.

There were increases in the manufacturing and services sectors but these increases were offset by a continuing fall in the net rate of return for continental shelf companies.

The ONS report said: "The overall business environment continues to improve as in previous quarters, in part driven by a rise in demand. Quarter on year growth in real business investment was the largest since the 2009 downturn, at 11 per cent, whilst growth on the previous quarter was higher than in the two previous periods at 3.3 per cent."

However, it goes on to point out that, Ernst and Young have reported that UK quoted companies - both on the main market and Aim listed - issued 63 profit warnings, a reduction on the previous quarter but higher than the same period in each of the last three years.

In addition, the rise in the FTSE100, which has been sizeable since the first quarter of 2013, has been "somewhat more subdued", ending the quarter on a high but still hovering around the 6700 mark