New figures due to show health of UK’s economy – BBC News

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Good morning. The latest quarterly Gross Domestic Product (GDP) figures for the UK economy are due to be published at 07:00 GMT.

GDP, which broadly covers economic growth, measures the value of goods and services that the UK produces. It’s measured by looking at output, expenditure and income.

When the number rises it means the economy is doing well – and when it falls it is doing badly.

GDP matters because it influences how businesses act, how the government chooses to set its tax and spending policies, and what the Bank of England does with interest rates.

All of these things have an impact on your pocket, which is why we’re going to steer you through the Office for National Statistics (ONS) announcement.

We will bring you live updates and analysis from our team of journalists and correspondents.

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