UK economy contracts by 0.3% in August

Production down 1.8% as GDP backtracks

Eve Maddock-Jones
clock • 2 min read

UK GDP fell by 0.3% in August, backtracking on the 0.1% growth seen the month before.

The Office for National Statistics said that a fall in production was the biggest contributor to the contraction, with production down 1.8% during the month, a further decline from the 1.1% drop in July. It linked the fall in production to the 1.6% decrease in manufacturing having a negative knock-on effect. These results do not include September's interest rate hike from the Bank of England or the fall out of the government's Mini Budget and extra bank holiday for the Queen's funeral, which economists expect may be an even weaker set of results. Raymond James European strategist J...

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