UK economy beats forecasts again to grow 0.1% in August
EWU•UK GDP rose 0.1% in August, beating economists’ forecast of a 0.1% decline. Annual growth reached 2.1%, its strongest reading since October 2022.
1. Growth surprises in August
Britain’s economy grew 0.1% in August, official data showed, against a forecast 0.1% decline. The annual growth rate rose to 2.1%, its strongest reading since October 2022.
2. Manufacturing leads monthly gains
Manufacturing output rose 1.2% month on month, while services output was flat and construction output fell slightly. Computer programming was the largest contributor to growth in the three months to August, and the data showed broad-based growth across services over the past year.
