Aug Services Flat, But 3-Month Growth Best..>

UK DATA: Aug Services Flat, But 3-Month Growth Best Since February

- UK Aug Services unchanged m/m vs +0.3% m/m in July

- UK Aug Services +0.4% 3m/3m vs 0.3% in July

- UK Aug financial services activity 0.2% m/m, matching July growth

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The service sector recorded no growth in July, exceeding expectations of 

a slight contraction, but expanded by its fastest pace since February on 

a rolling three-month basis. Services accounted for nearly all economic 

growth in the lastest three months, adding 0.36pp to GDP. Film and 

television production accounted for much of the strength, with the 

information and communication sub-sector rising by 1.4% in the three 

months to August. Financial services showed signs of resurgence, rising 

by 0.8% in the lastest three months, the fastest pace since April 2018. 

FInancial services increased by 0.2% in the month of August, the fourth 

straight rise after 14 consecutive months of decline.