U.K. economy rebounded 1.8% in May as coronavirus lockdowns began easing
July 14, 2020 @ 10:51 +03:00
The U.K. economy grew by less than expected in May, as the country began to gradually ease lockdown measures.
Official figures revealed Tuesday that May GDP expanded by 1.8% on the month. Economists polled by Reuters had expected a monthly rebound of 5.5%.
“Despite this, the level of output did not recover from the record falls seen in March and April 2020 and has reduced by 24.5% compared with February 2020, before the full impact of the coronavirus,” the Office for National Statistics said in its release.
The reading comes after a 20.4% monthly contraction in April, the country’s sharpest on record, during the height of its widespread coronavirus restriction measures which ravaged economic activity.
U.K. economy rebounded 1.8% in May as coronavirus lockdowns began easing, CNBC, Jul 14