Economic Indicators
UK economy grew by 0.2% in August
2024.10.11 02:30
LONDON (Reuters) -Britain’s economic output rose by 0.2% in monthly terms in August after two consecutive months of no growth, data from the Office for National Statistics showed on Friday.
Economists polled by Reuters had forecast a 0.2% month-on-month expansion of gross domestic product.
The Bank of England expects economic growth to slow to 0.4% in the third quarter and 0.2% in the final three months of the year – which it views as closer to the economy’s underlying growth rate.
Sterling was little changed against the U.S. dollar immediately after Friday’s ONS figures were released.
Compared to a year ago, economic output was 1.0% higher, below the 1.4% growth forecast by economists.
