UK Economy Contracted in the 2nd Quarter

15 August 2022

UK gross domestic product (GDP) is estimated to have fallen by 0.1% in Quarter 2 (Apr to June) 2022, based on the first estimate. Services output fell by 0.4% in Quarter 2 2022 and is now 1.1% above pre-coronavirus (COVID-19) pandemic levels. The largest negative contributions to services output resulted from human health and social work activities, and wholesale and retail trade. Despite an increase of 1.6% in Quarter 2 2022 in the wholesale and retail of cars, this industry remains 1.9% below pre-coronavirus pandemic levels.

Source:   Office for National Statistics
Post by: Republic of Türkiye Ministry of Trade