Markets News
Economy1 min read
UK GDP Edges Up 0.1% in August on Production Growth
Monthly output beat expectations as production expanded, while services were flat and construction contracted, official figures showed.
Key takeaways
- UK GDP grew 0.1% in August, against expectations of a 0.1% decline.
- Production rose 0.8%, while services were flat and construction fell 0.2%.
The UK economy grew 0.1% in August, beating economists’ expectations for a 0.1% contraction, according to figures from the Office for National Statistics.
Growth followed a 0.4% increase in July. Over the three months to August, GDP rose 0.7%, the fastest quarterly growth since the three months to May.
Production increased 0.8% in August, while services showed no growth and construction output fell 0.2%. The figures arrive ahead of Chancellor John Healey’s Budget at the end of the month.
Topics
United KingdomJohn Healey
Further reading
The Guardian: Tech stock sell-off intensifies as markets fret about AI; UK growth beats forecasts in August – business live ↗BBC: UK economy grew 0.1% in August ahead of Healey's first Budget ↗City A.M.: UK economy grew unexpectedly after production boost ↗
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
