In the monthly reading, all major sectors declined in July, something that has not happened since June 2022; The services sector declined 0.5%
UK GDP fell by 0.5% in July, after growth of 0.5% in June, according to estimates released this Wednesday (13) by the Office for National Statistics. As a result, forecasts are that the British economy grew by 0.2% in the quarter ending July compared to the three-month period ending in April.
In the monthly reading, all major sectors declined in July, a fact that has not happened since June 2022. Production in the services sector fell by 0.5% and was the largest contributor to the monthly GDP decline, while industrial production contracted by 0.5%. 7% and construction fell 0.5%.
According to estimates from the Office of National Statistics, Industrial production grew by 0.6% in the quarter and was the main sector contributing to the growth during the period. The services and construction sector showed a 0.1% increase through July.
Free class
Principles of wealth
Thiago Godoy, the father of finance, reveals the secrets of the world's biggest investors in this free class
Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.