TechGenyz
Author at TechGenyz Insights

UK recovery continues but way to go to recoup virus losses

The British economy recouped some further lost ground during July after a swath of coronavirus restrictions were eased. However, it still has to make up around half the output lost at the peak of the lockdown.

The Office for National Statistics said Friday that the British economy grew by a monthly rate of 6.6 per cent as many sectors started reopening after months of being idle during the lockdown. The hospitality sector, which includes, hotels, pubs and restaurants, reopened at the start of July, for example.

Other sectors, such as manufacturing and housebuilding, also continued their recovery, though industrial production and construction remain below their pre-crisis levels.

July’s increase means that the British economy has now grown for three months in a row in the wake of April’s dramatic 20 percent slide. Overall, the British economy remains 11.7 percent smaller than it was in February before the full economic impact of the pandemic was felt.

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