UK economy grew by 6.6% as lockdown continued to ease

The UK economy grew by 6.6% in July as lockdown measures continued to ease, the Office for National Statistics has said.

It is the third month in a row that the economy has expanded but output remains far below pre-pandemic levels – 11.7% down.

The ONS warned that the UK ‘has still only recovered just over half of the lost output caused by the coronavirus’.

A consensus of analysts predicted a 6.8% month-to-month increase. Figures showed that the economic rebound decelerated after the UK had reported 8.7% growth in June.

ONS director of economic statistics Darren Morgan said: ‘While it has continued steadily on the path towards recovery, the UK economy still has to make up nearly half of the GDP lost since the start of the pandemic.

‘Education grew strongly as some children returned to school, while pubs, campsites and hairdressers all saw notable improvements.

‘Car sales exceeded pre-crisis levels for the first time with showrooms having a particularly busy time.

‘All areas of manufacturing, particularly distillers and car makers, saw improvements, while housebuilding also continued to recover.

‘However, both production and construction remain well below previous levels.’

This is a breaking story we will be updating.

Source: Read Full Article