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UK economy grew 0.1% in August, beating expectations
August growth beat Reuters-poll expectations, while sterling rose and U.K. government bond yields fell after the release.
✓Source-backed summarySource: CNBC
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THE VERIFIED BREAKDOWN
- The U.K. economy grew by a better-than-expected 0.1% in the month to August.
- Economists polled by Reuters had been expecting GDP to shrink by 0.1% between July and August.
- The British pound jumped 0.4% against the U.S. dollar following the release, while yields on U.K. government bonds fell across the curve.
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