UK gross domestic product (GDP) increased by 0.4% in the three months to July, the Office for National Statistics (ONS) has revealed.

The latest rise in GDP follows increases of 0.6% and 0.4% in the three months to May and June respectively.

Across this period, services output grew by 0.6%, while production and construction output fell by 0.5% respectively.

In the month to July, GDP grew by 0.4%, following growth of 0.3% in June.

The ONS said this growth was due to a 0.4% rise in services output, a 0.2% increase in production and a 0.1% rise in construction.

Sales and marketing director at Phoebus, Richard Pike, stated that while two months of growth is a positive sign, “the wider picture remains one ofc continued uncertainty”.

He added: "The mortgage market is still operating against a backdrop of affordability pressures, so a return to growth should not be mistaken for a return to normality. Lenders will need to remain responsive as different groups of borrowers experience very different financial situations and circumstances.

"The real test now is whether this growth can be sustained. A stronger and more stable economy would give borrowers, lenders and the wider property market greater certainty, but the focus will remain on whether today’s figures mark the beginning of a more consistent recovery rather than another short-lived improvement."

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