Business services and finance increased by 0.1 per cent, compared with growth of 0.2 per cent in the previous quarter. Weaker growth in activities auxiliary to financial services (which includes stock exchange activity) was partly offset by increased growth in computer services and other business services.
The ONS says weaker construction and production output drove the deceleration in growth, which was partially offset by increased growth in the service industries. Government and other services rose by 0.4 per cent, the same rate of growth as in the previous quarter. Deceleration occurred in recreation services with offsetting acceleration in a number of other industries.
Total production output decelerated in the second quarter, decreasing by 0.5 per cent, compared with a fall of 0.2 per cent in the previous quarter. Manufacturing made the largest contribution to the slowdown, falling by 0.4 per cent compared with a rise of 0.4 per cent in the previous quarter. Mining and quarrying fell by 0.9 per cent compared with a decrease of 4.7 per cent in the first quarter. Electricity, gas and water output decreased by 1.5 per cent, compared with a fall of 1.3 per cent in the previous quarter.
Services output increased by 0.4 per cent compared with growth of 0.3 per cent in the first quarter. Transport, storage and communication made the largest contribution to the acceleration in growth.
Distribution, hotels and restaurants rose by 0.2 per cent, compared with growth of 0.3 per cent in the previous quarter, the deceleration was driven by retail.
Transport, storage and communication grew by 2.2 per cent, compared with a rise of 0.7 per cent in the first quarter. Post and telecommunications made the largest contribution to the acceleration, with all the major transport divisions showing increased rates of growth.
