Dear visitor,
You're reading 1 of your 3 free news articles this quarter
Register with us for free to get unlimited news, dedicated newsletters, and access to 5 exclusive Premium articles designed to help you stay in the know.
Join the UK's leading credit and lending community in less than 60 seconds.
UK sees modest growth in GDP in August
UK monthly GDP is estimated to have grown by 0.2% in August – following a fall of 0.6% in July – according to the Office for National Statistics’ latest figures.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
The main contributor to this growth came from services output, which rose by 0.4%. Despite this, the economy saw falls across the sectors assessed – namely consumer-facing services, production and construction – decreasing by 0.6%, 0.7% and 0.5% respectively.
Looking at the broader picture, overall GDP grew by 0.3% in the three months to August when compared to the three months to May. Broken down, production was the largest contributor to this growth – growing by 1.2% – while services and contribution output rose by 0.1% and 0.9% respectively.
Meanwhile, monthly GDP grew by 0.5% in August when compared to the same month last year.
Stay up-to-date with the latest articles from the Credit Strategy team
ENJOY READING?
Member of
Get the latest industry news
Permission Statement
