• UK GDP rose 0.3% m/m, as expected

Market news

10 July 2018

UK GDP rose 0.3% m/m, as expected

Commenting on today's GDP figures, Head of National Accounts Rob Kent-Smith said:

"The first of our new rolling estimates of GDP shows a mixed picture of the UK economy with modest growth driven by the services sector, partly offset by falling construction and industrial output.

"Retailing, computer programming and legal services all performed strongly in the three months to May while housebuilding and manufacturing both contracted.

Services, in particular, grew robustly in May with retailers enjoying a double boost from the warm weather and the royal wedding. Construction also saw a return to growth after a weak couple of months."

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