UK recovery quickens in April as economy posts record annual jump

  • 2 days   ago
UK recovery quickens in April as economy posts record annual jump
Britain's recovery from the COVID-19 pandemic sped up in April as lockdown measures eased, with the fastest monthly growth since July leaving output a record 27.6% higher than a year earlier, when the virus was rampant and lockdown tightest.
 
The figures on Friday from the Office for National Statistics (ONS) showed rapid growth in the services sector as non-essential retail and hospitality businesses opened their doors after months of closure and schools fully restarted.
 
Economic output rose by 2.3% month-on-month in April, marking the fastest growth since July, the ONS said, and slightly above the Reuters poll consensus for a 2.2% increase.
 
"The jump in GDP in April was another sign that consumers are raring to spend as the economy reopens," said Thomas Pugh, UK economist at consultancy Capital Economics.
 
Source: Reuters

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