UK real GDP grows 0.2% MoM, 1% YoY in Aug 2024: ONS

In the three months to August 2024, real GDP is estimated to have grown by 0.2 per cent compared with the three months to May and by 0.8 per cent YoY.

The retail trade, except of motor vehicles and motorcycles industry, was the largest contributor to the rise in consumer-facing services output in August this year and the three months to August.

Production output grew by 0.5 per cent MoM in August this year, following a revised fall of 0.7 per cent in July, but showed no growth in the three months to August, an ONS release said.

Three of the four main sectors in production output saw growth in August, with the largest contribution to the growth being a 1.1-per cent MoM rise in manufacturing following a fall of 1.2 per cent in July this year. Manufacturing output increased in nine of the 13 manufacturing sub-sectors in August.

Construction output grew by 0.4 per cent MoM in August, following an unrevised fall of 0.4 per cent in July, and grew by 1 per cent in the three months to August.

Fibre2Fashion News Desk (DS)