Morgan Stanley Sees UK AI Sector Driving GDP Growth, ICT Output Up 6.7% on June 12

According to Morgan Stanley, the UK's information and communications technology (ICT) sector is driving monthly GDP growth, with output increasing 6.7% year-over-year as of June 12. Economist Bruna Skarica noted that since the fourth quarter of 2019, ICT sector output has grown 45.4%, significantly outpacing the broader economy's 6% growth over the same period. Skarica remarked that industries most susceptible to rapid AI adoption appear to be simultaneously boosting GDP and productivity gains.
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