UK August monthly GDP +0.2% vs +0.2% m/m expected

  • Latest data released by ONS - 12 October 2023
  • Prior -0.5%; revised to -0.6%
  • GDP +0.5% vs +0.5% y/y expected
  • Prior 0.0%; revised to +0.3%

A rebound in services sector activity (+0.30%) was the main contributor to the monthly growth in August, while there were declining contributions in both production (-0.09%) and construction (-0.03%). Overall services output improved by 0.4% on the month after a fall of 0.6% in July with the largest drivers of growth being professional, scientific and technical activities, and education.

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