UK: The Calm Before the Budget: Growth Awaiting Fiscal Clarity

From niesr.ac.uk

Monthly GDP grew by 0.2 per cent in August, following no growth in July. This monthly figure was supported by marginal growth from all 3 main sectors – production, services and construction output. In addition, GDP grew by 0.2 percent on a three-month-on-threemonth basis in August. • Recent ONS revisions edged down GDP growth by 0.1 in the second quarter of 2024 to 0.5 per cent. While this does not significantly impact this year’s overall growth outlook, taken with higher-frequency indicators, it does suggest a loss of momentum relative to the first half of the year. Consequently, we projectthe economy to ... (full story)