UK GDP rose 0.1% in August with production up and services flat. Which sector do you watch?

The ONS estimates UK GDP rose 0.1% in August, with production up 0.8% and services flat. Annual growth was 2.1%, the highest since August 2022 (GDP report). The three months to August were 0.7% higher than the three months to May.

A month where production drives growth while services are flat says something different from one where services lead. Services are the larger part of the economy, so many traders follow them for sterling, while production can move more sharply in a single month. Production is volatile, and a strong month can reverse the next, which is one reason the three-month figure is often easier to read.

We would like to hear how you read monthly GDP:

• Do you trade the monthly GDP figure, or wait for the quarterly revision?
• Which sector do you watch for sterling: production, services or retail?
• Does a flat services month change your view of the Bank of England?
• Have you traded a GDP release and seen revisions reverse the move?

UK retail sales for September shows the consumer side, and the second-quarter revision gives the quarterly picture.

Please share your own approach and reasoning, not calls for others to copy. Posts that promise a direction or sell signals will be removed.