UK economy grew slightly in August ahead of key Budget
The UK economy grew slightly in August, expanding by 0.1%, according to official figures. This comes after a slight contraction of 0.1% in July. The growth in August is seen as an important indicator ahead of the upcoming Budget announcement, which is expected to address the ongoing economic challenges facing the country. The modest growth in August was driven by an increase in services, particularly in the areas of human health and social work activities, as well as education. However, the manufacturing and construction sectors experienced declines during the same period. Economists have cautioned that the UK economy is still facing significant headwinds, including high inflation, rising interest rates, and the ongoing impact of the COVID-19 pandemic. The upcoming Budget will be closely watched for measures aimed at stimulating economic growth and supporting households and businesses.
Source: For the complete article, please visit the original source link below.
