View today’s macro data. We just learned that UK gross domestic product (GDP) has fallen 0.1% in the second quarter of the year, according to the first estimate.
This means 0.6% above pre-coronavirus levels (Q4 2019) and 2.9% higher than Q2 2021. On the output side, services fell 0.4% in the second quarter of 2022, where activity in the health and employment sectors declined. Social media has weighed on this figure, reflecting a reduction in coronavirus-related activities.
On the other hand, services that are growing are tourism, arts, entertainment and recreation activities. For households, there was a 0.2% decline in real consumption in the second quarter of 2022, offset by a positive contribution from net trade.
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#pibreinounited
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#economyuk
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