UK economy unexpectedly grows in August despite fall in consumer spending

Latest data showing surprise 0.1% growth is boost to John Healey a fortnight before his first budget Business news – live updates The UK economy unexpectedly continued to grow in August despite a fall in consumer spending before John Healey’s first budget as chancellor.

Figures from the Office for National Statistics showed gross domestic product (GDP) rose by 0.1% last month, compared with 0.4% growth in July.

That confounded a forecast by City economists of a 0.1% contraction.

Continue reading...