Preliminary estimates from the UK Office for National Statistics showed that UK gross domestic product (GDP) rose by 0.1% in August, compared to a revised 0.1% contraction in July. This reading was revised from a flat 0.0%, matching market expectations.
This reading indicates that the UK economy is expected to grow by 0.3% in the three months ending in August, compared to a 0.2% contraction in the three months ending in July.
The services sector, which accounts for more than 70% of the UK economy, did not grow in August, but grew by 0.4% in the three months ending in August. The construction sector fell by 0.3% in August, but rose by 0.3% in the three months ending in August. Production grew by 0.4% in August, but fell by 0.3% in the three months ending in August.