Latest data released by ONS - 12 August 2020

  • Prior +1.8%; revised to +2.4%
  • Index of services +7.7% vs +8.0% m/m expected
  • Prior +0.9%; revised to +1.5%

Slight delay in the release by the source. The positive takeaway here is that the UK economy improved further in June but ONS notes that overall economic activity in the month is still a sixth below its level in February i.e. pre-virus impact.

There isn't much else to gather from the report here as it just reaffirms a modest rebound since bottoming out in April but the outlook still remains uncertain moving forward.

There's also factory activity data released at the same time are as per below:

  • Manufacturing production +11.0% vs +10.0% m/m expected
  • Prior +8.4%
  • Manufacturing production -14.6% vs -15.0% y/y expected
  • Prior -22.8%
  • Industrial production +8.7% vs +9.0% m/m expected
  • Prior +6.0%
  • Industrial production -12.5% vs -13.1% y/y expected
  • Prior -20.0%
  • Construction output +23.5% vs +15.0% m/m expected
  • Prior +8.2%
  • Construction output -24.8% vs -29.5% y/y expected
  • Prior -39.7%