World Cup gives economy 0.3% bounce

Warm weather and World Cup deliver windfall to GDP but longer term growth prospects weaken

The latest GPD figures from the Office for National Statistics (ONS) show monthly economic growth was up 0.3% in June as the World Cup kicked off, driving spending on entertainment and hospitality, after showing zero growth in May, revised down from the original meagre 0.1% figure.

The ONS said the World Cup bolstered activity, with businesses in sectors including alcohol manufacturing, wholesale, hospitality, publishing, television production and advertising citing the tournament as a factor behind higher turnover.

This was particularly so for the manufacturing of food, beverages and tobacco, which was up by 1.0%.

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