Economic Indicators
UK economy contracts 0.6% in June and 0.1% in Q2
2022.08.12 09:30
FILE PHOTO: People walk through the financial district of Canary Wharf, London, Britain 28 September 2017. REUTERS/Afolabi Sotunde
LONDON (Reuters) – Britain’s economy contracted by 0.6% in monthly terms during June, and by 0.1% between April and June, official data showed on Friday.
A Reuters poll had pointed to a 1.3% contraction in June.
The ONS said services fell by 0.5% in June 2022, which was the main driver of the fall in GDP. June’s slide in economic output had been expected because of an extra bank holiday for Queen Elizabeth’s platinum jubilee celebrations.
