UK Q2 GDP was revised up to 0.5% quarter-on-quarter, the strongest first-half pace in the G7, but the Bank of England's Financial Policy Committee flagged gilt yields at 2008-era levels and roughly $450bn in global AI-related debt issuance as rising systemic risks.
ONS revisions leave the UK among the G7's strongest H1 2026 performers even after the Iran-war energy shock, with Q2 now 0.5% q/q. Source
The UK's Office for National Statistics (ONS) revised second-quarter GDP up to 0.5% quarter-on-quarter on Wednesday, from an initial 0.4% estimate and above the 0.4% consensus. Year-on-year growth came in at 1.4% against 1.2% expected, and with Q1 unrevised at 0.6%, the UK now holds the strongest first-half growth pace in the G7. It's a rare compliment for an economy that spent most of the post-Brexit, post-mini-budget years as the group's laggard.
