UK economy stalls for second consecutive month in July

Posted on September 16, 2024   |  

The UK economy stagnated for the second month in July, showing no growth.

GDP remained unchanged in July, following a flat performance in June, while a 0.2% increase was expected.

Declines in production and construction were offset by gains in services and a rebound in retail sales.

The UK saw a 1.3% expansion in the first half of the year, leading among G7 countries.

Growth is anticipated to be weaker in the second half, with projections of 0.3% growth for both the third and fourth quarters.