The British economy grew by 0.4% last July, driven by increased use of artificial intelligence

London, September 11 (KUNA) -- Official data showed on Friday that the British economy grew by 0.4 percent in July, driven particularly by increased adoption of artificial intelligence technologies by businesses. Data released by the Office for National Statistics (ONS) indicated signs of growing corporate use of AI and other modern technologies, which contributed to strong performance in the services sector and other economic sectors. It added that the growth recorded in July exceeded the rates seen in May and June, which were 0.3 percent and zero percent, respectively.

Economists had predicted no growth for the British economy in July, but it managed to surpass those expectations despite several ongoing crises, including the war in Iran and rising energy prices.

For his part, British Chancellor of the Exchequer John Helli welcomed the results, despite what he described as “serious global uncertainty.” Helli said, “Our economy’s growth, although still fragile, was the fastest among the Group of Seven economies in the first half of the year,” adding that “the conflict in the Middle East is already having domestic repercussions, from the cost of a family’s weekly shopping to the cost of government borrowing.”

Helli is expected to present his first budget in October next year. (End) A.S.H. / S.M.A.