UK continues to feel heatwave effect with GDP growth of 0.7%

Stronger than analyst expectations

Laura Dew
clock • 2 min read

The UK economy grew by 0.7% in the three months to August 2018, according to the Office for National Statistics (ONS), unchanged from the rate of growth in the three months to July.

The ONS said all three main sectors contributed positively to the growth with services making the largest contribution at 0.42 percentage points, followed by the construction and production industries. Although the growth rate was on a par with the revised growth for the previous three months, the figures remain the highest growth rates since February 2017. The figures were above expectations, with analysts forcecasting growth of 0.6% for the period, on the back of upward revisions to earlier data. Mark Carney: Economic outlook 'clouded by Brexit' GDP growth has continued to pic...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Partner Insight: Tariffs are here to stay. What's next for investors?

Partner Insight: Tariffs are here to stay. What's next for investors?

The current outlook for US tariffs is complex and their full impact on growth remains to be seen. Columbia Threadneedle Investments explores what advisers need to know, key events to keep top of mind and how to navigate the uncertainty.

Columbia Threadneedle Investments
clock 23 October 2025 • 5 min read
IFS: Reeves must plug £22bn fiscal hole to restore 'tiny' headroom

IFS: Reeves must plug £22bn fiscal hole to restore 'tiny' headroom

Think tank urges chancellor to avoid 'limping from one forecast to the next'

Linus Uhlig
clock 16 October 2025 • 2 min read
Why higher bond yields aren't causing a Mini-Budget meltdown

Why higher bond yields aren't causing a Mini-Budget meltdown

'One thing we know about Rachel Reeves is she will live or die by her fiscal rules'

Laith Khalaf
clock 07 October 2025 • 5 min read