The economy slumped after a 0.4% increase in June with the few growth areas being services and construction but figures were dragged down by a sharp decline in automotive sales, however year on year GDP was 1.4% higher than July 2024.

Although the service sector showed signs of gathering pace, one of the largest hit industries within the sector was car and motorbike sellers and traders, seeing a huge drop of 1.4%.

This drop was affected by the initial 25% US tariff on the automotive sector, which were later changed to 10%, on all cars and car parts imported to the US.