UK economy beats forecasts with 0.4% growth in July Welcome boost for chancellor with unexpected rise put down to rapid growth of AI in services sector outweighing Iran war fallout The UK economy grew in July as the rapid growth of AI appeared to outweigh the economic damage from the Iran war, in a welcome boost for the John Healey before next month’s budget.Figures from the Office for National Statistics (ONS) showed a surprise 0.4% increase in gross domestic product (GDP), compared with 0.3% growth in June. Key points and original sources are listed below.

• UK economy beats forecasts with 0.4% growth in JulyS1

• Welcome boost for chancellor with unexpected rise put down to rapid growth of AI in services sector outweighing Iran war fallout The UK economy grew in July as the rapid growth of AI appeared to outweigh the economic damage from the Iran war, in a welcome boos...S2