UK economy flatlines again in July: ONS


London, Sep 11 (IANS): The monthly real gross domestic product (GDP) of the United Kingdom (UK) is estimated to have remained stagnant in July, according to official data on Wednesday.

The UK economy has flatlined for the second consecutive month, according to the Office for National Statistics (ONS).

Services output grew by 0.1 per cent in July, while production output fell by 0.8 per cent and construction output decreased by 0.4 per cent.

"July's monthly services growth was led by computer programmers and health, which recovered from strike action in June. These gains were partially offset by falls for advertising companies, architects and engineers," said Liz McKeown, ONS's director of economic statistics, Xinhua news agency reported.

McKeown added that the manufacturing sector declined, with car and machinery firms experiencing a particularly poor month.

In the three months to July, real GDP grew by 0.5 per cent compared to the previous three months ending in April, driven by a 0.6 percent growth in services output, according to the ONS.

"The figures suggest the UK's recovery remains on track, though sector performance remains mixed and growth over the second half of the year will probably be a bit slower than in recent quarters," said Ben Jones, lead economist of the Confederation of British Industry (CBI).

 

  

Top Stories


Leave a Comment

Title: UK economy flatlines again in July: ONS



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.