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UK gross domestic product up 0.1% in June, missing expectations

By BFN News | 09:37 AM | Friday 10 August, 2018


UK gross domestic product only grew by 0.1% in June, falling short of market expectations, according to the Office for National Statistics. The market was hoping for a 0.2% rise, weakening more modestly from a 0.3% improvement posted in May. For the entire second quarter, however, GDP rose 0.4%, according to a preliminary estimate by the ONS, which was in line with market expectations. The UK's trade deficit widened by £4.7bn to £8.6bn in the June quarter, due mainly to falling goods exports and rising goods imports. In June, construction output jumped by 1.4%, smashing expectations for a 0.2% fall. Story provided by StockMarketWire.com

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