The UK’s economy grew by 0.2% in August, driven by a rebound in construction and strength in accountancy, retail, and manufacturing, after stagnation in previous months.
Liz McKeown of the ONS emphasized that while August saw a boost, the overall trend indicates a slowdown in economic growth compared to earlier in the year.
Ben Jones from CBI noted that firms have likely paused hiring and investment decisions due to uncertainty surrounding upcoming Budget announcements, reflecting caution in the business community.
Chancellor Rachel Reeves stressed that growing the economy is paramount for addressing critical issues like NHS funding and improving the welfare of working people, amidst speculation of tax rises.
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