UK Q2 2017 prelim GDP rises to 0.3%, bang on expectations

The UK GDP first estimate revealed that the pace of growth in the UK economy slowed more-than expected in the second quarter of this year.

The report showed that the GDP figures came in at 0.3% q/q in the second quarter of 2017, slightly firmer than 0.2% booked in the first quarter, and matched expectations.

While on an annualized basis, the growth rate dipped to +1.7% in Q1, when compared to forecasts of +2.0%.

Key Headlines from ONS:

The largest contributors to growth in services were retail trade, which improved after a fall in the first quarter, and film production and distribution.

Construction and manufacturing were the largest downward pulls on quarterly GDP growth, following 2 consecutive quarters of growth.