GDP +4.4% vs +2.9% y/y prelimThat's a decent revision higher, which sees the UK economy marginally expand in Q2 - as opposed to a marginal contraction
- GDP +4.4% vs +2.9% y/y prelim
That’s a decent revision higher, which sees the UK economy marginally expand in Q2 – as opposed to a marginal contraction. Services output is estimated to have increased by 0.2%, driving activity during the quarter. In terms of real GDP, the level is now estimated to be 0.2% below where it was in Q4 2019 – before the pandemic. In any case, despite the positive revision, the economy continues to slow and recession risks are certainly heightened considering the outlook at the moment.
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