Story perspectives

UK Economy Grows 0.4% in July on AI Services

By Drooid · Sep 11, 2026, 3:58 PM UTC · How we work

Summary

Story summary

The United Kingdom's economy grew 0.4% in July, driven by AI-related services.
Office for National Statistics reported services up 0.4% and computer programming output up 4.4% in three months to July.
Chancellor John Healey called the growth “welcome resilience” ahead of his October 28 budget.
Economists said AI spending offset the Iran war’s energy-price shock and higher borrowing costs.

History

Historical Context

The United Kingdom’s April 2000 3G spectrum auction, overseen by Chancellor Gordon Brown, raised £22.5 billion, echoing the U.S. dot-com boom that lifted the Nasdaq Composite about 400% from 1995 to its March 10 2000 peak. After the bubble burst, the ten-year expansion from 1991 to 2001 showed how tech-driven growth could sustain the economy, a model now cited for AI-related services.

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Story summary

The United Kingdom's economy grew 0.4% in July, driven by AI-related services.
Office for National Statistics reported services up 0.4% and computer programming output up 4.4% in three months to July.
Chancellor John Healey called the growth “welcome resilience” ahead of his October 28 budget.
Economists said AI spending offset the Iran war’s energy-price shock and higher borrowing costs.

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