Initial UK GDP contracts 0.1% q/q in Q2 vs -0.2% expected

  • The UK’s quarterly GDP contracted by 0.1% in the second quarter versus -0.2% expected.
  • UK GDP came in at -0.6%m/m in June vs. -1.3% expected.

The British economy contracted 0.1% on a quarterly basis in the three months to June.Compared to the 0.8% growth recorded in the first quarter and the -0.2% expected.

In annual terms, UK GDP grew by 2.9% in the second quarterCompared to the expected 2.8% expansion and the 8.7% expansion recorded in the previous quarter.

On a monthly basis, the economy contracted in June to -0.6% vs. -1.3% expected and 0.5% previously.

for this part, The services index for June fell 0.4% in the three months to JuneCompared to 0% previously and 0.9% expected.

Quoting the Office for National Statistics, MNI reports that “there are positive contributions from consumer-oriented services, including accommodation activities, food services, arts, leisure and leisure activities. There was a 0.2% decrease in real household consumption.”

About UK GDP

The GDP published by National Statistics is a measure of the total value of all goods and services produced by the United Kingdom. Gross Domestic Product is a broad measure of economic activity in the United Kingdom. In general, an upward trend has a positive effect on the British pound, while a downtrend is seen as negative (or bearish).

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Terry Alexander

"Award-winning music trailblazer. Gamer. Lifelong alcohol enthusiast. Thinker. Passionate analyst."

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