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UK manufacturing production uptick helps bolster Q2 GDP growth



The UK manufacturing sector was the largest contributor to production output in June 2023, which in turn was the largest contributor to GDP growth, according to the latest ONS figures.


The UK economy grew by a modest 0.5 per cent in June 2023, following a fall of 0.1 per cent in May. The largest contributor to GDP growth was production output, which grew by 1.8 per cent in June, having previously fallen by 0.6 per cent in May. June’s production output growth was the strongest seen since August 2020, when it grew 1.9 per cent.


The largest contributor to the production output growth witnessed was manufacturing output, which grew 2.4 per cent in June, the strongest growth since November 2020, when it grew 2.5 per cent. In fact, the manufacturing sector recorded growth in 11 of its 13 subsectors, with basic pharmaceutical products and pharmaceutical preparations the largest contributors to manufacturing growth, growing 7.9 per cent in June. Transport equipment also saw notable manufacturing growth of 4.8 per cent in June, with the manufacture of motor vehicles, trailers and semi-trailers the largest contributor to this division, growing 8.5 per cent in June.


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