One Canada Square, at the heart of Canary Wharf financial district seen standing between the Citibank building and HSBC building on 14th October 2022 in London, United Kingdom.
Mike Kemp | In Pictures | Getty Images
U.K. gross domestic product grew by 0.2% in August, the Office for National Statistics estimated Thursday, partially recovering from a downwardly revised 0.6% contraction in July.
Services output was the main contributor to growth in August, adding 0.4% on the month to offset a fall in production output of 0.7% and a decline in construction output by 0.5%.
“While this data point is not yet consistent with a build-up of slack in the U.K. economy, it must be looked in the totality of the data, which shows early signs of a cooldown in the labour market and thus, lower inflation down the road,” said Mathieu Savary, chief European strategist at BCA Research.
“It does not change the…
