Hope for economic recovery as exports take off
The Office for National Statistics said the building industry grew by 1.4 per cent in the quarter to June 30.Overall, exports hit a record high of £78.4billion with growth of 3.2 per cent last month alone.
As a result, the trade deficit in goods fell to £8.1billion in June from May’s £8.7billion, but a £6.5billion service sector surplus cut the overall figure to £1.6billion.
Exports to China rose 20 per cent on last year and exports outside the EU rose by £1.3billion to £14.2billion in June. Manufacturing output was also up 1.9 per cent.
The growth was mostly driven by trade with non-EU countries – a positive sign that UK companies are seeking customers further afield
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