UK economy contracts 0.6% in June and 0.1% in Q2

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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)