(RTTNews) - Tuesday, the Office for National Statistics said UK’s economic growth was revised up to 1.5% year-on-year in the second quarter from 1.4%. The economy stagnated on a sequential basis, unrevised from last month’s estimate. Economists had expected the ONS to confirm the preliminary estimates released on August 22.

The economy had expanded 0.3% sequentially and 2.3% year-on-year in the first quarter.

In the second quarter, the implied GDP deflator rose 2.8% on an annual basis, revised up from 2.6% published last month.

According to the latest report, the volume of production in the second quarter dropped by a revised 0.7% sequentially. Driven by falls in new private and public housing, construction output slid 0.5% quarter-on-quarter. Meanwhile, services output climbed 0.2% compared with a 0.4% rise in the prior quarter.

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