The UK economy rose 0.5% in June, much higher than the 0.2% estimated.
11 August 2023
A surprise beat from the UK economy is seeing sterling make some advances this morning. Industrial output rose much higher than forecast showing a 1.8% monthly increase against expectations of a 0.2% advance. Overall UK GDP rose 0.5% over the month of June, much higher than the +0.2% estimated from economists and this meant that the economy grew 0.2% over the second quarter compared to a 0.1% advance in the first.
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The information in this document is given for information purposes only and does not qualify as investment advice. Opinions and assessments contained in this document may change and reflect the point of view of GAM in the current economic environment. No liability shall be accepted for the accuracy and completeness of the information. Past performance is not an indicator for the current or future development.