News

UK economy surges by record 15.5% in Q3 but recovery slowed in September

Time 11 months ago

The UK economy jumped by a record 15.5 per cent between July and September as the country bounced back out of recession – but the recovery slowed sharply even before the second lockdown, reveals new data.

The Office for National Statistics (ONS) said the UK’s Q3 growth was the highest since records began in 1955.

The bounce back came as Britain eased out of the spring lockdown.


The ONS said the economy rebounded from the 19.8 per cent contraction Q2, which plunged the UK into a record-breaking recession.

But month-on-month growth slowed to 1.1 per cent in September as the government’s Eat Out To Help Out scheme ended and the ONS revealed that gross domestic product (GDP) was still 9.7 per cent below pre-crisis levels.

Jonathan Athow, deputy national statistician at the ONS, said: ‘While all main sectors of the economy continued to recover, the rate of growth slowed again, with the economy still remaining well below its pre-pandemic peak.

‘The return of children to school boosted activity in the education sector.


‘Housebuilding also continued to recover while business strengthened for lawyers and accountants after a poor August.

‘However, pubs and restaurants saw less business after the Eat Out To Help Out scheme ended, and accommodation saw less business after a successful summer.’

 

James Batchelor's avatar

James – or Batch as he’s known – started at Car Dealer in 2010, first as the work experience boy, eventually becoming editor in 2013. He worked for Auto Express as editor-at-large and was the face of Carbuyer’s YouTube reviews. In 2020, he went freelance and now writes for a number of national titles and contributes regularly to Car Dealer.

More stories...

Advert
Server 190