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UK economic growth surprises to the upside

The UK economy rose 0.5% in June, much higher than the 0.2% estimated.

11 August 2023

A surprise beat from the UK economy is seeing sterling make some advances this morning. Industrial output rose much higher than forecast showing a 1.8% monthly increase against expectations of a 0.2% advance. Overall UK GDP rose 0.5% over the month of June, much higher than the +0.2% estimated from economists and this meant that the economy grew 0.2% over the second quarter compared to a 0.1% advance in the first.

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Charles Hepworth

Investment Director
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