UK Economy Grows 0.2% in August
UK Economy Grows 0.2% in August
UK Economy Grows 0.2% in August
News summary

The UK economy saw a 0.2% growth in August, following two months of stagnation, according to figures from the Office for National Statistics (ONS). This growth comes as a relief ahead of the autumn budget and aligns with economist predictions. Despite the August growth, the ONS notes a broader trend of slowing growth compared to earlier in the year. The return to growth is seen as a boost for Chancellor Rachel Reeves, who plans to use the upcoming budget to reboot economic growth, focusing on investment and household income. However, tough decisions are anticipated to address a significant £25bn gap in public finances. The Bank of England, after cutting interest rates in August, is expected to further reduce rates in November if economic conditions don't improve significantly.

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Bias Distribution
44% Center
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+4
Left 22%
Center 44%
Right 22%
Coverage Details
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9
Left
2
Center
4
Right
2
Unrated
1
Last Updated
18 min ago
Bias Distribution
44% Center
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