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AI Spending Splurge Helps UK Economy Grow in July
Services led the increase as computer programming firms tied to AI and cloud computing drove growth, while economists had expected no change.
- The UK's Gross Domestic Product grew by 0.4% in July, following a 0.3% increase in June, according to the Office for National Statistics .
- Computer programming was the biggest contributor to growth, with artificial intelligence and related technologies providing a boost.
- Many businesses with the largest turnover in July were involved in AI and cloud computing across computer programming, consultancy, and IT activities.
- AI is providing a 'bounce' to the UK economy as businesses invest in technology, software, and expertise needed to use AI effectively.
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8 Articles
8 Articles
Evening Standard+4 Reposted by 4 other sources
AI spending splurge helps UK economy grow in July
Gross domestic product (GDP) increased by 0.4% in July, following growth of 0.3% in June, official figures showed.
·London, United Kingdom
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In the first half of the year, the British economy grew as strongly as nowhere else in the West. This trend continues in July. Above all, a segment is booming.
·Düsseldorf, Germany
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The economy expanded by 0.4 per cent, beating analysts are expectations of no growth according to official figures.
Coverage Details
Total News Sources8
Leaning Left4Leaning Right1Center1Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 17%
R 16%
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