Production lifted UK economy: grew 0.1% in august ahead of healey’s first budget
August growth and production
The UK economy recorded a modest rise in August, in the final set of official figures before John Healey’s Budget. Output had grown by 0.4% in July. Production supported the August increase. That category includes manufacturing, oil and gas extraction, and energy supply.
Three-month performance
Across the three months ending in August, the economy grew by 0.7%. Liz McKeown, the ONS director of economic statistics, said computer programming contributed most to growth over that period. McKeown described the three-month performance as “robust,” according to the report.
Healey prepares Budget
The figures were released as Healey arrived in Bangkok for the IMF’s annual meeting. The IMF had also made positive upgrades to its outlook for Britain’s economy. Healey said he was pleased the IMF in Bangkok had backed his economic plans in London. He said he would “stay the path” before delivering the Budget in two weeks’ time.
Key points
- The UK economy grew 0.1% in August, following 0.4% growth in July.
- Production helped lift output, including manufacturing, oil and gas extraction, and energy supply.
- Growth over the three months to August was 0.7%, with computer programming the biggest contributor.
- Healey is due to deliver the Budget in two weeks after the IMF backed his plans.