UK growth slows as consumer spending falls

UK economic growth slowed more than initially estimated in the second quarter as consumer spending fell the most in more than two years, adding to pressure on Bank of England policy makers to provide more stimulus.

Gross domestic product rose 0.1% from the first quarter instead of the 0.2% previously published, the Office for National Statistics said on Wednesday in London. Consumer spending plunged 0.8%, the most since the first quarter of 2009. On the year, GDP rose 0.6%. The data comes as Bank of England policy makers meet to decide whether they’ll revive their bond-purchase programme. Meanwhile, a report from Markit Economics and the Chartered Institute of Purchasing and Supply on Wednesday showed UK services growth unexpectedly accelerated from an eight-month low in September.