According to figures from the central bank the economic activity indicator for July rose to 0.5% from 0.3% in June.

This rise brings an end to a downward cycle recorded since the end of 2015, despite growth stabilising at 0.3% in June.

The consumer spending indicator continued on its downward trajectory, which it began in February of this year, after stabilising in mid 2015, falling from 1.8% in June to 1.6% in July.