UK economy sees weaker-than-expected growth in August after July contraction
UK economy returns to growth in August
- Britain's economy grew by a modest 0.1 per cent in August, falling short of the 0.2 per cent expansion forecast by most economists.
- The Office for National Statistics (ONS) also revised its July figures, now showing a 0.1 per cent fall in Gross Domestic Product (GDP) for that month, rather than no growth.
- Over the three months leading up to August, the UK's GDP increased by 0.3 per cent.
- This three-month growth compares to a 0.2 per cent rise recorded in the three months to July.
- Services growth remained stable, largely driven by strong performances in business rental and leasing, and healthcare, although some consumer-facing services and wholesalers experienced weakness.