8/12, 8:01 AM (Source: TeleTrader)
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UK GDP falls 0.1% in Q2

The United Kingdom gross domestic product (GDP) fell 0.1% in the second quarter of 2022, according to a first estimate released by the country's Office for National Statistics (ONS) on Friday.

The services sector contributed largely to the decline, with an output drop of 0.4%.

On an annual basis, the UK GDP was up 2.9% from the second quarter of 2021. Meanwhile, the ONS monthly estimate showed the UK economy contracted 0.6% in June on a monthly basis, but grew by 1.9% in 12 months to June.

Baha Breaking News (BBN) / NP