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The UK economy grew by 0.2% in August – in line with expectations.
It was mostly driven by 0.4% growth in the services sector – with a 0.7% contraction in production output and a 0.5% fall in the construction sector.
This could help reduce the possibility of a recession starting as early as the third quarter between July and September.
It wasn’t all good news from the Office for National Statistics, which announced that it has revised July’s gross domestic product (GDP) further downwards.
Early official figures had already suggested that strikes and a summer washout led to a worse-than-expected contraction of 0.5% – but the ONS now believes July’s GDP actually fell by 0.6%.
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