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Live news: China's state banks lead Asian markets higher – Financial Times


The UK economy posted only a partial rebound in August helped by the recovery in the services sector.

Gross domestic product, or GDP, was up 0.2 per cent in August compared with the previous month, according to data published by the Office for National Statistics on Thursday.

It followed a 0.6 per cent contraction in July when activity was disrupted by strikes and wet weather.

Services output rose by 0.4 per cent in August 2023 and was the main contributor to the growth in GDP. In contrast, production output was down 0.7 per cent and construction registered a 0.5 per cent fall.

Director of economic statistics at the ONS, Darren Morgan, said: “Within services, education returned to normal levels, while computer programmers and engineers both had strong months.”

Line chart of GDP index, 2019=100 showing UK GDP is estimated to have grown by 0.2% in August

 



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