U.K.’s GDP Expanded by 2.1% in August, Growth below 4.6% Estimate

U.K.’s GDP Expanded by 2.1% in August, Growth below 4.6% Estimate

The U.K. GDP was up 2.1% for a fourth consecutive month as COVID-19 lockdown measures eased, according to press release. August’s GDP is 21.7% higher than April’s record fall of 19.5%, but below February’s 9.2% growth before the full impacts of pandemic.

  • GDP grew 8.0% in the three months to August 2020, below the expected 8.2%
  • Prior GDP month on month basis revised lower to 6.4% from 6.6%
  • Prior GDP growth of 3 months to a similar period last fiscal year revised higher to -6.8%  from -7.6%

U.K. stocks and pound gaining with reported rising GDP. FTSE 100 is up 0.84%, GBPUSD is up 0.13%

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