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UK economy bounces back in August

Cameron Martin Economist, CBI

We look at what new GDP and labour market statistics tell us about the economy.

27 Oct 2023, 4 min read

The UK economy expanded by 0.2% in August, returning to growth but failing to make up for the ground lost by a significant downturn in July (-0.6%), as an expansion in the services sector offset declines in production and construction. However, the poor start to the quarter coupled with a sharp drop in retail sales in September suggests growth in Q3 as a whole is likely to be close to zero. Labour market data also points to softe

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