UK economy picks up in August as GDP grows 0.4%

GDP remains below pre-pandemic level

Pedro Gonçalves
clock • 4 min read
Restaurants, bars and festivals helped economy pick up in August after rules eased
Image:

Restaurants, bars and festivals helped economy pick up in August after rules eased

Bars and festivals lifted the UK economy as GDP grew by 0.4% in August, but remained 0.8% below the pre-pandemic level of February 2020, according to the Office for National Statistics (ONS).

The latest snapshot showed activity in the accommodation and food service sectors, as well as arts, entertainment and recreation, contributed most to growth in the UK's dominant service sector, which makes...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Markets

Industry Voice: Not All Currencies Are Made Equal, So Don't Treat Them as Such

Industry Voice: Not All Currencies Are Made Equal, So Don't Treat Them as Such

Selective currency hedging may boost yields and add stability

Michael Walsh, Multi‑Asset Solutions Strategist at T. Rowe Price
clock 20 May 2022 • 3 min read
UK consumer confidence hits record low as the cost of living crisis deepens

UK consumer confidence hits record low as the cost-of-living crisis deepens

Report by GfK

clock 20 May 2022 • 1 min read
Ron Bundy of Morningstar

Morningstar's Bundy: Why the index industry needs a reset

Victims of their own success

Ron Bundy
clock 17 May 2022 • 2 min read
Trustpilot