UK Economy Beats Forecasts with 0.1% Growth in August

On Friday, the Office for National Statistics released the latest GDP figures, showing the UK economy expanded by 0.1% in August, outpacing the consensus forecast of 0.0% and the 0.1% expectation from some analysts. The modest uptick follows a flat July and signals a gradual recovery in consumer spending and business investment, suggesting the economy is stabilising amid persistent inflationary pressures.

In the commodities arena, gold edged up 0.78% to $4,137.54 per ounce, while silver rose 0.71% to $56.28. Crude oil saw a decline, with WTI falling 1.10% to $94.04 and Brent down 1.59% to $104.37. Copper slipped 1.45% to $6.56, and aluminium dropped 0.86% to $2,963.85. Natural gas prices climbed 1.78% to $3.257 per million British thermal units.

The data arrives as markets weigh the implications of the Bank of England’s policy stance and the ongoing debate over fiscal stimulus. Investors will be watching for further signs of economic momentum and the trajectory of inflation as the year progresses.