UK GDP Surprises with 0.3% Growth in June

The United Kingdom's GDP growth for June exceeded expectations at 0.3% month-over-month, largely due to a strong services sector that expanded by 0.4%.

This positive figure was driven in part by broad-based growth across the services sector, with only wholesale trade showing any contraction.

However, May's GDP growth was revised downward to flat, making June the sole month of positive growth for Q2.

On a quarterly basis, the UK economy grew at 0.4% quarter-over-quarter, just above the Bank of England's projections of 0.3%.