GDP On Course to Beat Unflattering Q1 in Q2.>

UK DATA: GDP On Course to Beat Unflattering Q1 Growth in Q2 

-UK MAY GDP +0.3% m/m; +0.2% 3m/3m; +1.4% 3m y/y

-UK MAY Services +0.3% m/m; +0.4% 3m/3m; +1.5% 3m y/y

-UK MAY Production -0.4% m/m; -0.6% 3m/3m;

-UK MAY Manufacturing +0.4% m/m; -1.2% 3m/3m; 

-UK MAY Construction +2.9% m/m; -1.7% 3m/3m; 

---------------------------------------------------------------

UK GDP grew by 0.3% on the month in May, with all but one of the major 

output components supporting growth. Services and construction output 

both expanded on the month but was offset by a drop in overall 

production which was weighed down by a 4-day, unexpected closure of the 

Sullom Voe North Sea Oil Field. On a 3m/3m basis, growth expanded by 

0.2%. GDP growth could contract by 0.9% m/m in June and overall Q2 GDP 

would come in level with Q1's disappointing showing (0.2% q/q).