UK monthly GDP grew 0.1% in August, according to the ONS, after 0.4% growth in both June and July, with June's figure revised up from 0.3%. The August gain was driven mainly by a 0.8% rise in production, while services were flat and construction fell 0.2%. Over the three months to August, real GDP rose 0.7%, up from 0.5% in the previous period, but this modest growth does little to ease pressure on households facing high inflation and mortgage rates. Richard Pike of Phoebus Software noted the IMF has upgraded its 2026 growth forecast, but said three months of modest expansion does not guarantee a sustained recovery and that it is unclear whether growth is broad-based. With the Budget a fortnight away, he said the Chancellor needs to turn signs of resilience into measures that support households and the housing market.
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