UK recovery to 'remain bumpy': Industry reacts to 0.1% GDP increase

Below economic forecasts

UK GDP rose by 0.1% in July, marking the sixth consecutive month of growth for the economy, but also falling by 90 basis points compared to June’s uptick of 1%.

The figures from the Office for National Statistics came in well below forecasts of 0.5%, and mean the three-month over three-month rate of growth came in at 3.6%, compared to June's rate of 4.8%. Production output was the biggest positive contributor to the UK economy, having grown by 1.2% following the reopening of an oil field production site. The construction sector contracted for the fourth consecutive month, following price increases caused by difficulties sourcing the likes of steel, concrete, timber and glass. Investors channel £295m into UK equity funds in July Overall, th...