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UK GDP has fallen, but recovery is in sight

UK GDP has fallen, but recovery is in sight

London (awp / dpa) – UK gross domestic product (GDP) fell 1.5% in the first quarter due to the closure. However, a 2.1% increase in March alone indicates a clear recovery in performance from deregulation.

The National Bureau of Statistics (ONS) said on Wednesday that the economy is shrinking by more than a quarter after growing by 1.3% in the fourth quarter of 2020. This decline is mainly explained by the worsening month of January with the implementation of a third prison in the UK to slow the spread of the virus and its variants.

In the last quarter, before the outbreak of the epidemic, British GDP was 8.7% lower than its volume at the end of 2019. “The strong recovery seen in March, thanks to trade and the return of schools, was not enough to stop the British economy from shrinking in the first quarter,” said ONS official Darren Morgan.

The 2.1% increase in GDP growth from August to March was strong. This confirms economists’ expectations for a strong recovery in growth in 2021, while the economy was hit hard by 2020, with a fall of 9.8% of GDP, its worst performance in 300 years and the biggest drop in the G7 countries.

“Despite a difficult start to the year, economic growth in March is a sign of optimism,” Finance Minister Rishi Sunak said in a statement on Wednesday. Covit-19 has killed more than 127,000 people in the United Kingdom, the most distressed country in Europe, but one of the most advanced vaccination campaigns in the world. Of the approximately 66 million people, more than 35 million have received the first dose of the vaccine and more than 17 million have received the second dose.

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afp / vj