UK August monthly GDP +0.4% vs +0.5% m/m expected
Latest data released by ONS - 13 October 2021
That's a decent improvement in economic output, though overall growth remains 0.8% below pre-pandemic i.e. February 2020 levels at this stage. The softer revision to July is a bit of a negative but there are some modest showings in the economy in August:
- Prior +0.1%; revised to -0.1%
- GDP +2.9% vs +3.0% 3m/3m expected
- Prior +3.6%
That said, supply and capacity constraints will be key detrimental factors that may weigh on the economic outlook further in Q4 so keep an eye on that.