UK GDP Grows 0.1% in August, Beating Forecast for a Contraction

UK gross domestic product (GDP) grew 0.1% month over month in August, beating expectations for a contraction as production growth helped counter weakness in services and construction.

Economists had expected GDP to fall 0.1% between July and August. The August increase was slower than the 0.4% monthly growth recorded in both June and July.

The British pound rose 0.4% against the U.S. dollar after the figures were released. Yields declined across UK government debt maturities.