UK GDP Recovers In August

The UK economy recovered in August, data from the Office for National Statistics showed on Wednesday. Gross domestic product grew 0.4 percent on month, but slightly slower than the economists' forecast of 0.5 percent. GDP growth for July has been revised from 0.1 percent growth to a 0.1 percent fall, mainly because of downwardly revised data for the manufacture of motor vehicles, oil and gas, and improvements to how health output is measured, the ONS said. GDP remained 0.8 percent below its pre-pandemic level in August. On the production-side, services output grew 0.3 percent in August. Production output increased 0.8 percent, mainly because of the continued increase in the extraction of crude petroleum and natural gas. Meanwhile, construction contracted again, with output down by 0.2 percent. Another report from the ONS showed that the visible trade deficit widened to GBP 14.92 billion in August from GBP 14.09 billion in July.The trade in services showed a surplus of GBP 11.2 billion versus GBP 11.14 billion in July. As a result, the total trade balance registered a deficit of GBP 3.7 billion, bigger than July's GBP 2.94 billion shortfall. For comments and feedback contact: editorial@rttnews.com Economic News What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more. Biotech Stocks Facing FDA Decision In October 2021 Biotech Stocks Facing FDA Decision In September 2021 Biotech Stocks Facing FDA Decision In August 2021

UK GDP Recovers In August

The UK economy recovered in August, data from the Office for National Statistics showed on Wednesday.

Gross domestic product grew 0.4 percent on month, but slightly slower than the economists' forecast of 0.5 percent.

GDP growth for July has been revised from 0.1 percent growth to a 0.1 percent fall, mainly because of downwardly revised data for the manufacture of motor vehicles, oil and gas, and improvements to how health output is measured, the ONS said.

GDP remained 0.8 percent below its pre-pandemic level in August.

On the production-side, services output grew 0.3 percent in August. Production output increased 0.8 percent, mainly because of the continued increase in the extraction of crude petroleum and natural gas.

Meanwhile, construction contracted again, with output down by 0.2 percent.

Another report from the ONS showed that the visible trade deficit widened to GBP 14.92 billion in August from GBP 14.09 billion in July.

The trade in services showed a surplus of GBP 11.2 billion versus GBP 11.14 billion in July. As a result, the total trade balance registered a deficit of GBP 3.7 billion, bigger than July's GBP 2.94 billion shortfall.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

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