Growth contracted by 0.1%

GDP fell by 0.1% in June 2022 as the impact of the Jubilee bank holidays weighed on growth figures, although business investment held up

Business investment increased by 3.8% in the latest quarter, following a fall in the previous quarter, while there was a 0.4% fall in services output, although production and construction output increased.

The fall in services output was partially offset by increases in output from accommodation and food services (4.7%), driven by increases in accommodation and in food and beverage service activities reflecting rises in mobile food stands and takeaway food shops. This coincided with the Queen’s Jubilee bank holidays.

There were also increases in other service activities (7.4%), and arts, entertainment and recreation (3.3%).

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