U.K. economy rebounded 1.8% in May as coronavirus lockdowns began easing

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