June’s annual UK economic expansion surpassed expectations, though monthly growth slowed from May’s revised figures.
The UK economy grew 1.1% year-on-year in June, exceeding the 0.8% consensus forecast but easing from May’s revised 1.2% expansion. The data reflects a modest slowdown in momentum after stronger earlier gains.
Month-on-month, GDP rose 0.3% in June, recovering from zero growth in May and aligning with market expectations. The trade deficit widened to £5.54 billion, signaling persistent external pressures.
Analysts noted the mixed signals, with annual growth remaining above trend but monthly gains showing volatility amid ongoing economic uncertainty.