Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
By Les Commons and Laurie Laird
LONDON (MNI) - UK gross domestic product rose by a
much-higher-than-expected 0.3% in July, powered by a rebound in the
The following are the key points from July GDP
and trade data released by the Office for National Statistics on Monday.
- July GDP growth exceeded the 0.1% expansion forecast by City
economists, although total output was unchanged over the three months
to July, after contracting by 0.2% in the second quarter.
- The service sector expanded by 0.3%, the best performance since
November of 2018, with much of the strength stemming from the the
rental and leasing of capital equipment. Administration and Support
services, which included rental and leasing activity, rose by 1.6%
between June and July, the biggest increase since May of 2017.
- Financial services eeked out a 0.1% rise in the three months to
July, the first increase since the three months to April of 2017. The
subsector rose by 0.1% in July, the third consecutive month without a
decline, after falling for 14 straight months between March of 2018 and
April of 2019.
- The second quarter trade deficit was revised to 6.874 billion,
from the originally-reported gap of Stg4.272 billion, suggesting that
trade will provide less of a boost to later iterations of GDP. Net trade
added a record-high 3.5 percentage points to growth in the first
release of Q2 GDP.
- June trade was revised to a deficit of Stg132 million, a sharp
deterioaration from originally reported Stg1.78 billion surplus, billed
last month as a record high.
-London bureau: 44 (0) 203 865 3812; email: firstname.lastname@example.org