The British economy resumed growth in August after declining for the first time in six months in July, with the financial market betting that the Bank of England will start raising interest rates before the end of the year.

According to Arabiya Net, gross domestic product grew 0.4% in August, slightly less than market expectations in a Reuters poll of experts, after being revised down to show a decline. 0.1% in July when staff absences linked to the spread of the delta strain of coronavirus peaked.

Office for National Statistics Director of Economic Statistics Darren Morgan said the economy rebounded in August and restaurants and festivals benefited from the first full month without Covid-19 restrictions in England.