Unexpected slowdown in UK GDP, which fell 0.3% in August

MADRID, October 12 (European press) –

UK gross domestic product saw a 0.3% drop in August from the previous month, weighed down by a 1.8% drop in output, according to data published on Monday by the Office for National Statistics (ONS).

The decline in the British economy follows a 0.1% gain in July, which was already revised down from 0.2%, and a zero growth forecast for August.

According to data from the National Statistics Office, the cumulative decrease in the previous three months is 0.3% compared to the three months prior to May.

The decline anticipates a possible recession in the third quarter of the year. To avoid this, the UK economy is supposed to grow over 1% in September.

By sectors, services declined 0.1% in August, with a particular incidence in health (-1.3%) and arts, entertainment and leisure (-5%), partially offset by a 1.2% increase in science and technology activities.

Construction grew 0.4%, up 0.1% recorded in July, driven by a 1.9% increase in new construction, while repair and maintenance work posted a 2% monthly decline.

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Terry Alexander

"Award-winning music trailblazer. Gamer. Lifelong alcohol enthusiast. Thinker. Passionate analyst."

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