One of Liz Truss’s suggestions on the leadership campaign trail was that her economic agenda could avoid recession. But one of the (many) gambles attached to these comments was what had already happened to the economy before she entered No. 10.
This morning we got some more insight about how the economy fared over the summer, as the Office for National Statistics revealed that GDP grew by 0.2 per cent in July: a small uptick, following a 0.6 per cent contraction in June.
The small, but still positive, growth was mostly a result of a boost to services industries, which fell by 0.5 per cent in June, with the largest contributing sectors including computer programming, consultancy and telecommunications.
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