UK economy grows faster than expected in second quarter

Britain's economy grew faster than first thought in the second quarter of this year. The Office for National Statistics now says growth was 0.5%, not the 0.4% reported earlier. The services sector also performed better, growing by 0.6%. Hot weather and the football World Cup helped boost spending in June. In the first half of the year, the UK grew faster than any other G7 country. The first quarter saw 0.6% growth. In July, the economy grew by 0.4%, partly because companies spent more on artificial intelligence. Most economists expect full-year growth of around 1.2%. Chancellor John Healey, who is preparing his first Budget, announced £150 million to support fast-growing businesses.