Preliminary estimates issued by the Office for National Statistics in Britain showed that the gross domestic product of the United Kingdom rose by 4.8% in the second quarter of this year ending in June, to come in line with expectations, supported by the easing of restrictions from the Corona virus, and after a rise of 2.2% in April and 0.6% in May and 1.0% in June, where there were increases in the sectors of services, production and construction output, while the largest contributions came from wholesale and retail trade, food services and education.
The services sector, which constitutes more than 70% of the British economy, recorded a growth of 1.5% in May, recording a rise of 5.7% in the second quarter of this year to support increases in wholesale and retail trade by more than 12.8%.
On the other hand, the monthly industrial production declined by 0.7% in June, while it recorded a growth of about 0.5% in the second quarter compared to the first quarter, as the sector was negatively affected by the epidemic.
The British pound is trading at 1.3873 levels against the US dollar, with slight gains, after testing 1.3855 levels at the beginning of the European session.
06/11/2024
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