UK GDP bounced back slightly in July growing by 0.2%, according to data published today (12 September) by the Office for National Statistics, despite the cost-of-living beginning to bite.
Experts were surprised by the figure, which followed a decline in GDP back in June of 0.6%. The main driver of growth was the services sector, which added 0.4%, boosted by the UK hosting the Women's Euro Championship. Production fell by 0.3% however, which the ONS said was due to a decline in electricity, gas, steam and air conditioning supply. Construction also fell by 0.8%. UK economy experiences shock contraction in April GDP was broadly flat in the three months to July, versus the previous three months. Marcus Brookes, CIO at Quilter Investors, said: "Rather surprisingly...
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