UK GDP grew only 2.1% mom in August, well below expectation of 5.7% mom. While that was the fourth consecutive month of increase, GDP remains -9.2% below pre-pandemic level in February. Looking at some details, services grew 2.4% mom (-9.6% below Feb. level), production grew 0.3% mom (-6.0% below Feb level), manufacturing grew 0.7% mom (-8.5% Feb level), construction rose 3.0% mom (-10.8% below Feb level).
Rolling three months growth in GDP from June to August was at 8.0% 3mo3m. Services rose 7.1% 3mo3m. Production rose 9.3% 3mo3m. Manufacturing rose 11.3% 3mo3m. Construction rose 18.5% 3mo3m.
Also from UK, trade deficit widened to GBP -9.0B in August, slightly better than expectation of GBP -9.1B.
