UK GDP growth shrinks to -0.1% in August

Monthly gross domestic product (GDP) growth was negative 0.1% in August 2019, following June and July's respective positive figures of 0.1% and 0.4%, with all component sectors having fallen from their July levels. Yet overall UK GDP grew by 0.3% in the three months to August, indicating a recession may not be inevitable. The services sector was the main contributor to GDP, which grew by 0.4%, driven by a relatively strong performance in June and July versus the three months prior. BofAML survey: Managers warn of secular stagnation (but not a recession) Meanwhile, the production...