UK GDP grows 0.3% in June on World Cup and heatwave boost

Britain's economy grew by 0.3 percent in June, outperforming forecasts and capping a first half of the year that saw the nation record the strongest growth among Group of Seven economies. The unexpected expansion was driven by a surge in the services sector, which benefited from a temporary respite in the Iran war, the men's soccer World Cup, and prolonged hot weather.

Official figures from the Office for National Statistics, released on Thursday, showed that gross domestic product rose by 0.3 percent from May, when growth was revised to show no change. Economists polled by Reuters had forecast zero growth for the month. The performance contributed to a second-quarter expansion of 0.4 percent, a slowdown from the 0.6 percent growth in the first quarter but still a relatively strong pace that matched expectations.

The services sector, which accounts for the largest part of the UK economy, expanded by 0.4 percent in June. The ONS noted that businesses in food, hospitality, advertising, and retail reported a boost from the World Cup and the hot weather. Alcoholic drinks producers, television production companies, and some manufacturers also cited these factors as helpful. The...