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🇬🇧 UK GDP rose 0.4% in July, but the growth run rests on one narrow tech-services cluster
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🇬🇧 UK GDP rose 0.4% in July, but the growth run rests on one narrow tech-services cluster

Macro Soup Newsroom Macro Soup Newsroom 4 min read

UK GDP rose 0.4% in July, the eighth straight three-month rise, but the entire services gain came from one AI-linked tech cluster, and construction is still contracting ahead of the Bank of England's 17 September rate decision.

Infographic of UK GDP in the three months to July 2026: GDP up 0.4%, services up 0.6%, production and construction each down 0.5%.
Services kept UK GDP expanding for an eighth consecutive three-month stretch even as factories and building sites contracted, per the ONS July release. Source

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