UK GDP rose 0.1% in August against a forecast 0.1% fall, and Bank of England officials credit firms for absorbing energy costs. Flat services, a £59.1bn goods deficit and the 28 October Budget make the case for a single November hike less clean.
UK GDP beat a Reuters poll calling for an August contraction, extending an eighth straight three-month expansion as the Bank of England holds Bank Rate at 3.75%. Source
UK GDP rose 0.1% in August, beating the Reuters poll forecast of −0.1%, the Office for National Statistics (ONS) reported. Annual growth hit 2.1%, the fastest since August 2022. Bank of England officials spent the week saying the economy has absorbed the energy shock better than feared. One mechanism explains both: firms are eating higher costs rather than passing them on.
