- Prior -0.1%
- Services output +0.3% vs +0.2% m/m expected
- Prior +0.1%
- Industrial output +0.7% vs +0.2% m/m expected
- Prior -0.9%; revised to -1.3%
- Manufacturing output +0.5% vs +0.5% m/m expected
- Prior -1.0%
- Construction output +0.3% vs 0.0% m/m expected
- Prior -0.6%; revised to -0.5%
The better performance comes amid a stronger showing in the services sector (+0.25% contribution) while production (+0.08%) and construction (+0.02%) also held up. That leads to the +0.4% estimate after rounding, which isn’t as impressive as what the headline might suggest at first glance. Still, it reaffirms some added resilience in the UK economy towards the end of Q2 and will just help to afford the BOE more flexibility on monetary policy.
This article was written by Justin Low at investinglive.com.