UK economy grows in August as GDP rises by 0.2% – what it means for your money

THE UK economy grew by 0.2% in August, the latest figures from the Office for National Statistics (ONS) show.

It follows a fall of 0.6% in July 2023, revised down from a 0.5% fall in our previous publication.

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The UK economy grew by 0.2% in August, the latest figures show[/caption]

Looking at the broader picture, GDP increased by 0.3% in the three months to August 2023, with growth in all sectors.

GDP measures the value of goods and services produced in the UK.

It also estimates the size and growth of the economy.