UK GDP Rises 0.1% in August

Data released by the UK Office for National Statistics shows that the UK's gross domestic product (GDP) grew by 0.1% on a quarterly basis in August, down from 0.4% in July and June. Industrial output rose 0.8%, services output remained flat, and construction output fell 0.2%. On an annual basis, UK GDP grew 2.1% in August; the three months through August saw GDP growth of 1.8% year-on-year. The statistics office noted that services were the main driver of economic growth over the three-month period, while construction output has declined for a fourth consecutive month.