Economic growth in UK and US revised higher; diesel on brink of £2 a litre for first time – as it happened
News Source
•Wed, 30 Sep 2026 16:02:38 GMT
📰 What Happened
New data shows the UK and US economies grew faster than first thought. UK growth from April to June was revised up to 0.5 percent, and the US grew 2.2 percent over the year. Both are the fastest-growing economies among the G7 group this year. But UK diesel is nearing 2 pounds a litre for the first time. Greggs also plans to close four factories, risking 740 jobs.
🔍 The Backstory
The revisions came despite disruption from the Iran war. UK household income rose, and services and construction led the growth. Energy bills are set to jump by 276 pounds a year from January. The Bank of England warned that risks to the economy have risen since July. Germany's inflation hit its highest since 2023, and its jobless count passed 3 million.
🎯 Why It Matters
Strong growth is good news, but higher fuel and energy bills hit family budgets. The mix shows that a growing economy does not always mean cheaper daily life, which is what people feel most.
New data shows the UK and US economies grew faster than first thought. UK growth from April to June was revised up to 0.5 percent, and the US grew 2.2 percent over the year. Both are the fastest-growing economies among the G7 group this year. But UK diesel is nearing 2 pounds a litre for the first time. Greggs also plans to close four factories, risking 740 jobs.
The revisions came despite disruption from the Iran war. UK household income rose, and services and construction led the growth. Energy bills are set to jump by 276 pounds a year from January. The Bank of England warned that risks to the economy have risen since July. Germany's inflation hit its highest since 2023, and its jobless count passed 3 million.
Strong growth is good news, but higher fuel and energy bills hit family budgets. The mix shows that a growing economy does not always mean cheaper daily life, which is what people feel most.