The size of the UK economy shrank by 0.5% in July according to figures out this morning
The Office for National Statistics said that services fell 0.5%,production fell 0.7%
and construction fell 0.5%
The fall comes after 0.5% gain in June and sees the economy shrink at its quickest pace in seven months with bad weather and industrial action blamed for the fall
This is the first month since June 2022 that all three sectors contributed negatively to GDP on the month.
Human health and social work activities was the largest contributor to the 0.5% fall in services with Industrial action by NHS senior doctor and radiographers for the first time while industrial action by junior doctors increased
Manufacturing’s 0.8% fall was the main contributor to the monthly fall in production, with 9 of its 13 subsectors down on the month
In July, industrial action by healthcare workers and teachers negatively impacted services and it was a weaker month for construction and retail due to the poor weather. Manufacturing also fell back following its rebound from the effect of May’s extra Bank Holiday said Darren Morgan
Director of Economic Statistics, ONS
Office for National Statistics
