Dutch international banks economist James Smith stated in a report that the United Kingdom's economy saw a recovery in August, but the growth rate is slowing down, after a strong growth in the United Kingdom's economy earlier in 2024. He mentioned that economic activity grew by 0.2% in August, following two months of stagnation. The growth rates for the first and second quarters of this year were 0.7% and 0.5% respectively, which are not expected to be repeated in the second half of the year. This indicates that the United Kingdom's banks are cautious about the strong growth data in the first half of the year, and not raising future growth forecasts was the correct decision. Smith stated that for monetary policy, this means that the service industry inflation data for September will be crucial, as lower-than-expected data could lead to an acceleration of policy easing.