Q3 GDP On Expansion Path Despite August.....>

UK DATA: Q3 GDP On Expansion Path Despite August Fall

-UK Aug GDP -0.1% m/m vs +0.3 m/m in July

-UK Aug GDP +0.3% 3m/3m vs no change 3m/3m in  July

-UK Aug Services no change m/m; +0.4% 3m/3m vs +0.3 3m/3m in July

-UK Aug Manufacturing -0.7%% m/m, -1.1% 3m/3m

-UK Aug IoP -0.6% m/m, -0.4% 3m/3m

-UK Aug Construction +0.2% m/m, +0.1% 3m/3m

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UK GDP is on course for a rebound in Q3, avoiding a fall into recession 

after a 0.2% slump in Q2. Total output slipped by 0.1% between July and 

August, but rose by 0.3% in the three months to August. That means 

output could fall by 1.4% between August and September and still leave 

Q3 GDP in the black. Services accounted for 0.36pp of total growth.  

Manufacturing moved back into the red in August, dampened by a 4.7% fall 

in pharmaceutical products. National statisticians noted "no evidence" 

of Brexit distortions in the August data.