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LONDON – Preliminary data released by the Office for National Statistics on Friday showed that the British economy expanded by 0.2% quarterly in August.
Gross domestic product (GDP) was in line with expectations of economists polled by Reuters, who forecast a 0.2% increase.
The UK economy grew by 0.2% in the three months to August and 0.5% in the three months to July.
As of August, the UK’s leading service industry grew slightly by 0.1%, while production and construction output increased by 0.5% and 0.4% respectively.
The country’s economy stalled in June and July after recording modest but steady expansion almost every month this year. Britain is from a shallow recession early this year.
Finance Minister Rachel Reeves will unveil the Autumn Budget at the end of this month, tax hikes and spending cuts She was expected to try to overcome an estimated £22 billion ($29 billion) black hole in the public finances. The Conservative opposition, which led the country until snap elections earlier this year, denies the disparity.
Reeves also suggested she might change the country’s debt rules to free up more cash to spur investment.
The government says the plans are part of its vision “National Revival” After painting a pessimistic picture of the economy, it attempts to inject some optimism into the popular psyche.
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