By Anjali Sharma
WASAHINGTON – According to official British data relesased on Thursday stated that the monthly real GDP of the United Kingdom is estimated to have remained stagnant in July.
Services output grew by 0.1 per cent in July, while production output fell by 0.8 per cent and construction output decreased by 0.4 per cent.
Liz McKeown, ONS’s director of economic statistics said “July’s monthly services growth was led by computer programmers and health, which recovered from strike action in June. These gains were partially offset by falls for advertising companies, architects and engineers,” media reported.
McKeown added that the manufacturing sector declined, with car and machinery firms experiencing a particularly poor month.
According to ONS, real GDP grew by 0.5 per cent compared to the previous three months ending in April, driven by a 0.6 percent growth in services output.
Ben Jones, lead economist of the Confederation of British Industry said “The figures suggest the UK’s recovery remains on track, though sector performance remains mixed and growth over the second half of the year will probably be a bit slower than in recent quarters,” .
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