July GDP Exceeds Forecast on Service Sector.>

UK DATA: July GDP Exceeds Forecast on Service Sector Rebound

-UK July GDP +0.3% m/m vs +0.0 m/m in June

-UK July GDP unchanged 3m/3m vs -0.2% Q2

-UK July Services +0.3%m/m; +0.2% 3m/3m vs +0.1 Q2

-UK July Manufacturing +0.3% m/m; -1.1% 3m/3m vs -2.3% Q2

-UK July IoP +0.1% m/m; -0.5% 3m/3m vs -1.4% Q2

-UK July Construction +0.5% m/m; -0.8% 3m/3m vs -1.3% Q2

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UK GDP expanded by 0.3% in July, shattering expectations of a 0.1% rise. 

Growth was flat over the three months to July, still an improvement on 

the 0.2% decline suffered in Q2. The service sector expanded by 0.3% m/m 

in July, the best performance since last November, contributing 0.28pp 

to total growth. The other output components recorded modest gains, with 

construction posting its highest growth since February.