Preliminary 2017 Q2 UK GDP data

Commenting on the figures, Danske Bank Economist Conor Lambe said:

“The UK economy was estimated to have grown by 0.3 per cent in the second quarter of the year.

“Despite the pressure high inflation is exerting on household finances, consumer-focused sectors such as retail trade and food and beverage service activities grew in Q2.

“Investment-related sectors, namely manufacturing and construction, experienced falls in output.

“The UK economy grew a little bit quicker in the second quarter of the year than it did in the first quarter. However, the estimated growth rate of 0.3 per cent is still relatively low and is further evidence of the economic slowdown that is being driven by a squeeze on UK consumers and by high levels of uncertainty.”

This comment was published in response to the preliminary UK GDP data published by the ONS on 26th July 2017.​​​

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