This is the fourth consecutive monthly increase, following a record fall of 19.5% in April 2020; GDP has grown to 21.7% higher than its April 2020 low.

However, it remains 9.2% below the levels seen in February 2020, before the full impact of the COVID-19 pandemic.

August 2020 represents a slowdown in growth, following the 6.4% seen in July, 9.1% in June and 2.7% in May.

GDP grew by 8.0% overall in the three months to August 2020.

Rupert Thompson, chief investment officer at Kingswood, said: “UK growth disappointed in August, with GDP rising only 2.1%, well short of expectations for a 4.6% increase.”

He added: “These numbers show the recovery slowing significantly even before the recent re-imposition of local restrictions and lockdowns and can only increase the pressure on the government – both over any new restrictions and the need to increase support for the most affected sectors.”