IOP, Construction Slightly Dampen Q2 GDP....>

UK DATA: IOP, Construction Slightly Dampen Q2 GDP Growth

-UK Jun Industrial production +0.5% m/m; +0.3% y/y

-UK Jun Manufacturing output unch. m/m; +0.6% y/y

-UK Jun Construction output -0.1% m/m; +0.9% y/y

-UK Q2 Industrial production unrevised at -0.4% q/q

-UK Q2 Manufacturing revised down to -0.6% q/q from -0.5% q/q

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The June activity data are a check on the estimates included in Q2 GDP 

and this set will have a negligible downward impact on Q2 q/q growth. 

Compared to the preliminary GDP  estimate, Q2 construction output was 

revised down to -1.3% on the quarter from -0.9% while industrial 

production was left unrevised at -0.4%. These data combined will knock 

0.01 percentage point off Q2 GDP, according to National Statistics. June 

industrial production was bolstered because there were no significant 

closures of North Sea oil and gas fields due to maintenance.