The UK economy is like living shy, dying unwillingly

thecekodok

 Britain's economy resumed growth in July although growth was slower than expected due to a decline in industrial production and construction.


The Office for National Statistics (ONS) reported UK gross domestic product (GDP) growth of 0.2% in July after a 0.6% contraction in June.


In the three months to July, GDP was flat compared to the previous same period, indicating a stagnant economy.



The main contributor to this expansion was services which saw an increase in information and communication technology of 1.5%.


However, output recorded a fall in July, with electricity, gas, steam and air conditioning supplies declining 3.4%. Construction also declined by 0.8%, while output in consumer-facing services increased by 0.6%.


The decline may be due to households cutting back on consumption amid soaring energy bills.


Overall, Britain's economy is now 1.1% above pre-coronavirus levels in February 2020.

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