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13th Jun 2022 18:10U.K., Daily Monitor

April's fall in GDP was driven by Covid spending, but flat private sector GDP caused the downside surprise.

Consumer services firms likely increasingly struggled during Q2, as households' real incomes fell further.

June's extra bank holiday also will dampen Q2 GDP; the MPC has to lower its forecast for 0.1% q/q growth.

business investment capital goods construction construction output consumer services energy energy prices fuel gdp data gdp growth government interest rates January June manufacturing March May motor fuel mpc nhs q2 q3 real disposable incomes real incomes real wages recession retail sales savings services sector wages

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Keywords for: GDP Set to Contract by about 0.7% Q/Q in Q2, after April's Weak Print

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