The British economy grew by 0.4% in the second quarter, providing a moment of respite for the new Prime Minister Andy Burnham.

The British economy recorded a growth of 0.4% in the second quarter of the year, according to data published by the Office for National Statistics.

This performance suggests a resilience of firms in the face of external threats, such as rising energy prices caused by the conflict in the Middle East. GDP grew by 0.3% in June, after stagnation in May, providing a moment of respite for the new Prime Minister Andy Burnham.

Estimates from the Bank of England indicate an economic growth of 1.1% for this year, but rising inflation, estimated to reach 3.2%, will affect the real incomes of households.

The war in Iran represents a continuing threat, and estimates suggest a possible decline in economic growth by 2027. The quarterly growth was mainly supported by the services sector, with a significant contribution from the information and communications field. Real GDP per capita increased by 1% compared to the previous year.