2023-09-13 11:19:45
LONDON, Sept. 13, 2023 (Xinhua) – British economic output recorded a larger-than-expected contraction of 0.5 percent in July, data from the Office of National Statistics showed today (Wednesday).
Output of all three major sectors fell in July. The statistics office stated that the services and construction sectors recorded a decline of 0.5 percent, while production fell by 0.7 percent.
According to the Bureau of Statistics, the decline in services production was the main contributor to the decline in GDP in July.
Darren Morgan, Director of Economic Statistics at the Office for National Statistics, said: “In July, protests and strikes by healthcare workers and teachers negatively affected services, and July was a weaker month in the construction and retail sectors due to bad weather. Manufacturing declined after recovering from the impact of an additional bank holiday in May due to the coronation of the king.
“However, the overall picture appears more positive, with the economy growing in the services, production and construction sectors in the last three months,” Morgan noted.
Office data showed that Britain’s gross domestic product increased by 0.2 percent in the three months to July, with the three main sectors growing. /end of news/
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