Davy Research

Market comment

Sub-par UK growth in Q2

DAVY VIEW

Yesterday’s preliminary GDP estimate showed another quarter of sub-par growth for the UK economy. GDP was up 0.3% on the quarter, marginally better than the 0.2% gain in Q2, while annual growth eased to 1.7% from 2% in Q1. The sector breakdown shows growth entirely reliant on services, with construction weak and no apparent upturn in manufacturing from weaker sterling.

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