UK GDP contracted -0.1% mom in August, below expectation of 0.0% mom. Looking at the details, Services was flat mom. Production dropped sharply by -0.6% mom. Manufacturing contracted -0.7% mom. Construction rose 0.2% mom. Agriculture dropped -0.1% mom.
In the three months to August, rolling GDP grew 0.3%, but that’s mainly because of the growth back in July. Services was the main drive in the three-month GDP growth, up 0.4% 3mo3m. Production contracted -0.4$ 3mo3m. Construction grew 0.1% 3mo3m.
Also from UK, manufacturing production dropped -0.7% mom, 1.7% yoy in August, much worse than expectation of -0.1% mom, -0.7% yoy. Industrial production dropped -0.6% mom, -1.8% yoy, also much worse than expectation of -0.1% mom, -1.1% yoy. Goods trade deficit widened slightly to GBP -9.8B.
