Official data revisions indicate that UK households' incomes grew at a stronger pace than initially estimated during the first six months of 2026. Income per head rose by 1.1% between January and June, following an increase in the level of economic growth.
The Office for National Statistics (ONS) reported that gross domestic product (GDP) rose by 0.5% in the April to June quarter, an upgrade from the previously estimated 0.4%. This meant the UK economy grew at the same rate as the US in the first half of the year, with a 0.6% growth in the first quarter.
The ONS also noted that households increased their savings, with the savings rate rising from 8.6% in the first three months to 8.8% by the end of June. Business investment also saw an increase, growing by 1.8% in the second quarter and estimated to be 5.2% higher compared to the same quarter a year ago.
Analysts suggested that a "Burnham bounce" in confidence, following the Makerfield byelection announcement in May, could have contributed to the figures. Currency markets reacted positively, with Sterling hitting a six-week high against the euro and rising 0.4% against the US dollar to $1.3292.