Thanks for joining us. Britain’s economy has grown faster than France and Germany since the pandemic, updated estimates from the Office for National Statistics show.
GDP is now estimated to be 1.8pc above pre-pandemic levels in a boost to Rishi Sunak.
The revised data also showed that the UK economy grew by more than first thought between January and March, with gross domestic product rising by a revised 0.3pc against the 0.1pc growth initially estimated.
5 things to start your day
1) New housing starts surge to near 50-year high | Construction of 73,600 homes comes as developers scramble to beat net zero deadline
2) Keir Starmer is lesser of two evils, says Brexit-backer Duncan Bannatyne | Former Dragon backs Labour leader after Sunak’s ‘terrible’ handling of the economy
3) French and Italian borrowing costs hit highest levels in a decade | Eurozone faces concerns over big deficits and prolonged high interest rates
4) New ‘space age’ titanium iPhone 15s are overheating, customers complain | Apple’s much-lauded lightweight case gets too hot for some users to hold
5) John Lewis to raise £150m selling off Waitrose stores in turnaround push | Sale comes as troubled department store seeks fresh funding after recent run of losses
What happened overnight
Asian markets were mixed on Friday, with only a few open due to public holidays across the region.
Tokyo’s Nikkei 225 index was down 0.3pc at 31,764.01. In Bangkok, the SET declined 0.5pc. Australia’s S&P/ASX 200 added 0.4pc to 7,054.40. India’s Sensex gained 0.4pc.
Markets were closed in Hong Kong, Shanghai and Seoul.
Markets in mainland China are closed as the country starts its Golden Week holiday, which may damp trading in the region through the first week of October.
Brent crude oil, the international standard, picked up 15 cents to $93.25 per barrel.
On Thursday, the S&P 500 rose 0.6pc to 4,299.70. The Dow Jones Industrial Average added 0.3pc to 33,666.34, and the Nasdaq Composite gained 0.8pc, to 13,201.28.
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