UK economy grew 0.1% in August, beating expectations

The U.K. economy grew by a better-than-expected 0.1% in the month to August, with production growth offsetting weak output in services and construction.Economists polled by Reuters had been expecting GDP to shrink by 0.1% between July and August. But the reading still marked a slowdown in momentum for British gross domestic product, which grew by 0.4% month-on-month in June and July. The British pound jumped 0.4% against the U.S. dollar following the release, while yields on U.K. government bonds — known as gilts — fell across the curve. This is breaking news. Please refresh for updates.