UK GDP expands 0.3% m/m in July, beats expectations

The UK GDP monthly data, as published by the National Bureau of Statistics (NBS) showed that the economy expanded 0.3% in July versus 0.2% expected growth and 0.1% previous. Monthly GDP arrived at +0.6% versus +0.5% 3m/3m expected and prior +0.4%.

Meanwhile, Index of services (July) came in at 0.3% vs +0.2% m/m expected and Index of services (July) arrived at +0.6% vs +0.5% 3m/3m expected.

The method of publishing the GDP on a rolling three-month data is based on a calculation comparing growth in a three-month period with growth in the previous three-month period. For example growth in March to May compared with the previous December to February. Such comparison is set to give the policymakers a better picture of the underlying changes in the economy than a method of quarterly comparisons.

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