- Prior +0.7%
- GDP +0.9% vs +0.9% y/y expected
- Prior +0.3%
Looking at the breakdown, household consumption contributed +0.12%, government consumption +0.30%, and gross capital formation +2.38% on the quarter. That is partially offset by a fall in net trade (-2.20%). Overall, it still points to a solid showing in Q2 for the UK economy. And that has allowed the BOE to stave off rate cuts all the way until earlier this month.
