11th Oct 2024 07:09
(Alliance News) - The UK economy grew at the pace it was forecast to in August, numbers on Friday showed.
According to the Office for National Statistics, UK gross domestic product expanded 0.2% on-month in August. The UK economy had tread water in July from June.
The August growth was in line with the FXStreet cited consensus.
The ONS noted services output rose 0.1% in August from July. It had risen 0.1% in July from June. Industrial production rose 0.5% monthly in August, following a 0.7% fall in July from June.
On-year, industrial output fell 1.6% in August, after a 2.2% slide in July.
The annual industrial output reading fell short of the FXStreet cited consensus, which predicted a 0.5% fall. The monthly reading beat expectations of a 0.2% rise, however.
By Eric Cunha, Alliance News news editor
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