POST Online Media Lite Edition



 

UK Q2 GDP growth doubled in June

Staff Writer |
Britain’s preliminary gross domestic product (GDP) climbed 0.4% on a quarterly basis in Q2 2018, driven by robust retail sales and good weather conditions and in line with market consensus.

Article continues below




In the prior quarter, the GDP rose 0.2%. Moreover, the nation’s total trade deficit narrowed to £1.9 billion in June, from a revised deficit of £3.1 billion in the previous month. Market participants had expected the deficit to narrow to £2.5 billion.

Other data showed that, UK’s industrial production rebounded 0.4% on a monthly basis in June, recording its first rise in four months and compared to a revised drop of 0.2% in the prior month.

Markets had envisaged industrial production to rise 0.3%. Also, the nation’s manufacturing production advanced 0.4% on a monthly basis in June, higher than market expectations for a rise of 0.3%.

In the prior month, manufacturing production had registered a revised rise of 0.6%. Moreover, construction output unexpectedly rose 1.4% on a monthly basis in June. In the previous month, construction output had risen 2.9%.


What to read next

OECD GDP growth stable at 0.4 percent in Q1
BiH industrial production see year-on-year increase of 3.1 percent in 2017
U.S. wages grow 2.9 percent over past year