UK GDP Rebounds 0.1% In August
The UK economy expanded slightly as expected in August on the back of the production sector, the Office for National Statistics reported Thursday.
Real gross domestic product advanced 0.1 percent month-on-month in August, reversing a revised 0.1 percent decline in July.
Total production in the industrial sector grew 0.4 percent compared to July, while services activity remained flat and the construction sector contracted 0.3 percent.
The annual growth in GDP eased to 1.3 percent in August from 1.5 percent in the prior month.
In the three months to August, real GDP advanced 0.3 percent, following a 0.2 percent rise in the three months to July. The service sector was the main contributor to real growth, by 0.4 percent, closely followed by construction output with an increase of 0.3 percent. Meanwhile, industrial production was 0.3 percent lower.
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