UK GDP slowing sharply, July growth of just + 0.1%

In July, the UK’s gross domestic product rose by just 0.1% on a monthly basis, far worse than the + 0.6% growth expected by the consensus. UK GDP has discounted the increase in Covid-19 infections in the country, with the spread of the Delta variant. The economic slowdown is evident, if we consider the GDP growth in June, equal to + 1%. The UK economy remains below its pre-Covid levels of 2.1%.