UK economy returns to growth in August after July dip

THE UK economy returned to growth in August after suffering a dip in July.

According to the latest official figures, UK gross domestic product grew 0.4% in August in the first full month after Covid-19 restrictions were lifted.

It remains 0.8% below February 2020 levels, before the pandemic began.

The economy resumed its recovery after suffering a 0.1% drop in July.

The Office for National Statistics previously estimated growth of 0.1% for July, but that has since been revised down.

However, other recent data revisions for earlier in the year make the economy much closer to its pre-pandemic size than when the last set of monthly GDP data was released.

Darren Morgan, director of economic statistics at the ONS, said: "The economy picked up in August as bars, restaurants and festivals benefited from the first full month without Covid-19 restrictions in England.

"This was offset by falls in health activity with fewer people visiting GPs and less testing and tracing.

"However, later and slightly weaker data from a number of industries now mean we estimate the economy fell a little overall in July."

More to follow…

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