Growth in UK economy slows down

The UK is experiencing a moderation in growth this year after expanding by a strong 3% in 2014.

The latest UK GDP figures show that the economy grew by 0.7% in the second quarter, after a relatively soft 0.4% in the first quarter.

However, the pick-up in growth in the second quarter had much to do with a sharp increase in North Sea oil production, which is not expected to be sustained.