UK 3-month GDP grew 0.6% in July, highest in nearly a year, but production drags

UK GDP grew 0.3% mom in July, above expectation of 0.2% mom.

For the three months to July, GDP grew 0.6%, met expectations.

The three month growth rate was the highest since August 2017.

Growth was driven by services (0.45%) and construction (0.20%), with small drag from production (-0.07%).

Also from UK, visible trade deficit narrowed slightly to GBP -10.0B in July. Industrial production dropped -0.2% mom, rose 0.9% yoy versus expectation of 0.4% mom, 1.0% yoy. Manufacturing production rose 0.1% mom, 1.1% yoy versus expectation of 0.3% mom, 1.5% yoy. construction output rose 0.5% mom in July versus expectation of -0.4% mom fall.