• Q2 preliminary GDP -20.4% vs -20.7% QoQ expected
• Q1 preliminary GDP -2.2%
• GDP YoY -21.7% vs -22.3% expected
• Prior GDP YoY -1.7%

• Private consumption Q2 -23.1% vs -18.9% expected
• Private consumption Q1 -2.9%
• Government spending Q2 -14.0% vs +0.7% expected
• Government spending Q1 -4.1%
• Exports Q2 -22.3% vs -21.5% expected
• Exports Q1 Prior -13.5%
• Imports Q2 -23.4% vs -23.9% expected
• Imports Q2 -9.4%
• Total business investment Q2 -31.4% vs -30.0% expected
• Total business investment Q1 -0.3%

UK June Prelim GDP Report

Slight delay in the release by the source. The positive takeaway here is that the UK economy improved further in June but ONS notes that overall economic activity in the month is still a sixth below its level in February i.e. pre-virus impact. There isn’t much else to gather from the report here as it just reaffirms a modest rebound since bottoming out in April but the outlook still remains uncertain moving forward.