The UK economy reported surprise growth in August on the back of strong factory production, according to official figures. Nevertheless, it represented a slowdown after stronger activity earlier in the summer.
GDP rises 0.1% in August
The Office for National Statistics reported that gross domestic product (GDP) increased by 0.1% in August, following 0.4% growth in July. The statistics body also said the economy grew by 0.4% in June, revising its previous prediction of 0.3% upwards.
The August reading surpassed the expectations of economists, who had pointed to a 0.1% decline for the month. Data showed that the economy grew by 0.7% over the three months to August.
Services sector leads growth
ONS director of economic statistics Liz McKeown said: “GDP growth showed further strength in the latest three months, led by the services sector, while both production and construction fell.”
