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UK's GDP declines 0.5% in July 2023: ONS

14 Sep '23
2 min read
Pic: Shutterstock
Pic: Shutterstock

Insights

  • UK's monthly real gross domestic product contracted by 0.5 per cent in July 2023, as per the Office for National Statistics.
  • Manufacturing saw a slump of 0.8 per cent, driven by downturns in nine out of its thirteen subsectors.
  • The manufacturing of textiles, wearing apparel, and leather apparel detracted 0.12 per cent from the total manufacturing output.

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