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MNI BRIEF: No Growth For UK In July As Economy Flatlines

UK growth was flat for a second straight month in July as only services saw modest growth.
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MNI (LONDON) - The UK economy saw no growth in July for a second straight month, the Office for National Statistics said Wednesday, although GDP is standing 1.2% higher than in the same month a year ago.

It was the second straight month of flat growth, but the rolling three-month quarter to July saw the economy expand by 0.5% on the three months to April. The ONS could make no inference as to whether the data was impacted by the early July election, with returns from stakeholders coming in across the month. (see MNI INTERVIEW: 'Strange' Soft 2025 Growth Key To BOE Cut Case)

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MNI (LONDON) - The UK economy saw no growth in July for a second straight month, the Office for National Statistics said Wednesday, although GDP is standing 1.2% higher than in the same month a year ago.

It was the second straight month of flat growth, but the rolling three-month quarter to July saw the economy expand by 0.5% on the three months to April. The ONS could make no inference as to whether the data was impacted by the early July election, with returns from stakeholders coming in across the month. (see MNI INTERVIEW: 'Strange' Soft 2025 Growth Key To BOE Cut Case)

Keep reading...Show less