British economy grew by 0.2 per cent in August, contraction in the industrial sector continued

However, the decline in the industrial sector continued. Industrial production contracted by 0.7 per cent in August.

The British economy grew by 0.2 per cent in August, following a 0.6 per cent contraction in July 2023. The sector that showed the highest growth in this period was the service sector.

Darren Morgan, Director of Economic Statistics at the British Office for National Statistics, said: "According to our first estimated figures for August, the economy has made little progress. The strong increase in the service sector was partially offset by a decline in the industrial and construction sectors." He also stated that the economy has shown modest growth in the last three months, driven by automotive production, sales and the construction sector.