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UK economy grows by 0.2% in August - ONS

2023-10-12 14:24
LONDON (Reuters) -British economic output grew by 0.2% in August from July, matching forecasts by economists polled by Reuters, figures
UK economy grows by 0.2% in August - ONS

LONDON (Reuters) -British economic output grew by 0.2% in August from July, matching forecasts by economists polled by Reuters, figures from the Office for National Statistics showed on Thursday.

The ONS revised down its gross domestic product (GDP) estimate for July, with output now seen to have fallen by 0.6% versus an earlier estimate of a 0.5% drop.

The economy was hit by heavy rain and strikes in July and the improvement in August could help to reduce the possibility of a recession starting as early as the July-September period.

(Reporting by William Schomberg; Editing by Kate Holton)