MNI BRIEF: UK Economy Sees Modest August Growth - ONS
MNI (LONDON) - The UK economy grew 0.2% month-on-month in August, growing modestly after two consecutive months of flatlining, the Office for National Statistics said Friday.
Growth was seen in all the main sectors of the economy, although ONS Director of Economic Statistics Liz McKeown warned "the broader picture is one of slowing growth in recent months, compared to the first half of the year."
The data is in line with expectations of an economy that has slowed somewhat since Q2 and by-and-large matches the expectations of the Bank of England August MPR projections. However, with concerns of slower growth in September, the ONS said it would need a month-on-month decline of between 0.3% and 0.6% to see 0.0% growth in Q3 overall. (see MNI INTERVIEW: UK Consumer Unnerved By Tough Fiscal Talk -Gfk )