UK GDP rises 0.2% in August, as expected

• UK GDP rose 0.2% month-on-month in August, according to estimates
• GBP/USD struggles with 1.3050 after UK data.

Britain’s economy expanded by 0.2% in August, after stagnating for the second consecutive month in July, the latest data published by the Office for National Statistics (ONS) showed on Friday. The reading was in line with the market consensus of 0.2% growth in the reported period.

Meanwhile, services index (August) came in at 0.1% 3M/3M vs. 0.6% printed in July and 0.3% expected.

Other UK data showed monthly industrial output and manufacturing output rose 0.5% and 1.1% respectively in August. Both readings improved market expectations.

Separately, Britain’s goods trade balance came in at £15.06bn in August, up from £19.30bn expected and £18.871bn previously.

Market reaction to UK data

Great Britain economic data have little or no impact on the pound. At press time, GBP/USD it is trading 0.07% lower on the day, maintaining its range near 1.3050.