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| Household spending growth 'slowest since end of 2014' | Household spending growth 'slowest since end of 2014' |
| (35 minutes later) | |
| Household spending saw its lowest rise in two-and-a-half years, partly due to a slowdown in car sales, according to official data. | Household spending saw its lowest rise in two-and-a-half years, partly due to a slowdown in car sales, according to official data. |
| In the three months to June, spending grew by 0.1%, the slowest since the end of 2014, the Office for National Statistics (ONS) said. | In the three months to June, spending grew by 0.1%, the slowest since the end of 2014, the Office for National Statistics (ONS) said. |
| It came as the ONS confirmed economic growth was 0.3% in the second quarter. | It came as the ONS confirmed economic growth was 0.3% in the second quarter. |
| Analysts said the figures highlighted the UK as the slowest growing economy in the G7 so far this year. | |
| The ONS said the slowdown in spending reflected "a deterioration of the economic position of consumers in the start of 2017". | The ONS said the slowdown in spending reflected "a deterioration of the economic position of consumers in the start of 2017". |
| A pickup in retail sales was offset by lower spending on transport - including cars - which fell 2.2% in the second quarter. | A pickup in retail sales was offset by lower spending on transport - including cars - which fell 2.2% in the second quarter. |
| That was partly due to customers buying more cars at the start of the year before road tax changes came into effect in April. | That was partly due to customers buying more cars at the start of the year before road tax changes came into effect in April. |
| 'Moderation' | 'Moderation' |
| Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said the GDP figures confirmed the UK economy grew by 0.5% in the first half of the year. | |
| That was slower than Japan, Germany, France, US, Canada and Italy, he said. | That was slower than Japan, Germany, France, US, Canada and Italy, he said. |
| John Hawksworth, chief economist at PwC, said the UK economy had grown at "only around half the growth rates seen in the US and the eurozone in that quarter". | John Hawksworth, chief economist at PwC, said the UK economy had grown at "only around half the growth rates seen in the US and the eurozone in that quarter". |
| "This data confirms the picture of a moderation in UK growth that we expect to continue through the second half of the year," he added. | "This data confirms the picture of a moderation in UK growth that we expect to continue through the second half of the year," he added. |
| Investment rose by 0.7%, but this came from higher government spending rather than from businesses. | Investment rose by 0.7%, but this came from higher government spending rather than from businesses. |
| Exports of British-made goods increased by 1.5% but exports of services fell by 0.4% and imports also rose. | Exports of British-made goods increased by 1.5% but exports of services fell by 0.4% and imports also rose. |