UK economy grows 0.1% in August after July slump

Economists polled by Reuters forecast that British gross domestic product would expand by 0.1% in August from July.

The Bank of England last month nudged up its third quarter growth forecast to 0.4% from a previous estimate of 0.3%.

BoE policymakers, who held interest rates at 4% in September, are trying to steer an economy which has generated stubborn inflation but only weak growth.

Governor Andrew Bailey said on Tuesday that Britain’s jobs market was softening and inflation pressures were cooling after official data showed unemployment rose to its highest since 2021 and private sector wage growth slowed.

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