3rdPartyFeeds News

Economic Report: U.K. GDP climbs 6.6% in July, as economy recovers slightly more than half of lost output

The U.K. economy expanded by 6.6% in July, for its third consecutive monthly increase, according to data released Friday. Read More...

Shoppers walk by a discoloured patch of pavement in The Maltings shopping centre in Salisbury, southern England on September 4, 2020 .

adrian dennis/Agence France-Presse/Getty Images

The U.K. economy expanded by 6.6% in July, for its third consecutive monthly increase, according to data released Friday.

The U.K. Office for National Statistics said the country has recovered just over half of the lost output caused by the coronavirus.

“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,” said ONS director of economic statistics Darren Morgan.

The 6.6% rise in gross domestic product, which was just a tenth of a point below the economist consensus, follows monthly gains of 8.7% in June and 2.4% in May, and a record fall of 20% in April.

Read More

Add Comment

Click here to post a comment