Key facts
- UK economy grew 0.1% in August, defying contraction forecasts.
- Economy expanded 0.7% in the three months to August.
- Computer programming was a key driver of growth.
- IMF praised UK's plans to cut debt levels.
The UK economy expanded by 0.1% in August, defying analysts' expectations of a contraction and showing resilience amid rising energy prices and borrowing costs. Official figures from the Office for National Statistics (ONS) revealed that computer programming was the biggest contributor to growth over the three months to August, which saw the economy expand by 0.7% overall. The services industry remained flat, while construction contracted. The International Monetary Fund (IMF) has upgraded its forecast for the UK economy and praised the government's plans to cut debt levels. Chancellor John Healey stated that the figures offered proof of Britain's resilience to global shocks.