UK Q2 GDP Growth Rev. Down

The UK economy expanded 1.4% year-on-year in the second quarter, revised down from the initial estimate of 1.6%, a report released by the Office for National Statistics, or ONS showed Friday. Economists had expected the annual growth to ease to 1.5% from 2.3% recorded in the first quarter.

Compared to previous quarter, real Gross Domestic Product, or GDP remained flat in the second quarter. The initial growth estimate was 0.2% and economists were looking for a sequential increase of 0.1%.

In the second quarter, the implied GDP deflator rose 2.6% compared with 2007. Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved