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13th Jul 2022 13:52U.K., Daily Monitor

May’s rise in GDP was driven by a surge in doctor appointments-

really-and a jump in manufacturing output.

Consumer services firms struggled and will remain under pressure as households’ real incomes fell further.

June’s extra bank holiday also will dampen Q2 GDP, we expect a quarter-on-quarter contraction of 0.3%.

core inflation cpi cpi inflation government January June labour labour market manufacturers manufacturing March May May gdp ONS pmi q2 real incomes real spending recreation savings us

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Keywords for: We Still Expect a Contraction in GDP in Q2, Despite the Sharp Rise in May

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