Today was quite rich in macroeconomic publications from the UK. According to a report by the UK's National Statistical Office (ONS), the country's GDP growth rate increased by 1% in June 2021, compared to 0.6% growth in the previous month (revised from 0.8%). Analysts had forecast a 0.8% rise in the indicator. UK GDP in the second quarter of 2021 increased by 4.8% qoq after falling by 1.6% in the first quarter (revised from -1.5%). The statistics were in line with analysts' forecasts. In addition, the department provided data on industrial production in Britain. Industrial production in June fell 0.7% month-on-month after rising 0.6% in May (revised from 0.8%). Analysts predicted a growth of 0.3%. In annual terms, the indicator in June increased by 8.3%. Construction output fell 1.3% in June from the previous month, after falling 0.7% in May (revised from -0.8%). Analysts had forecast an increase in June by 1.1%. In annual terms, the value of the indicator increased by 30%. The UK trade deficit was £ 12bn in June, compared with a £ 9.6bn deficit in May (revised from £ 8.5bn). Analysts had forecast a June trade deficit of £ 9.1 billion.
