UK Q2 2017 prelim GDP rises to 0.3%, bang on expectations

Dhwani Mehta FXStreet

The UK GDP first estimate revealed that the pace of growth in the UK economy slowed more-than expected in the second quarter of this year.

The report showed that the GDP figures came in at 0.3% q/q in the second quarter of 2017, slightly firmer than 0.2% booked in the first quarter, and matched expectations.

While on an annualized basis, the growth rate dipped to +1.7% in Q1, when compared to forecasts of +2.0%.

Key Headlines from ONS:

The largest contributors to growth in services were retail trade, which improved after a fall in the first quarter, and film production and distribution.

Construction and manufacturing were the largest downward pulls on quarterly GDP growth, following 2 consecutive quarters of growth.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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