GDP sees record rebound after recession – but growth is slowing

Industry News | 12/11/20

The UK economy grew by a record 15.5% in the third quarter but remains 8.2% smaller than before the pandemic, official figures show.

Data from the Office for National Statistics (ONS) showed gross domestic product (GDP) bounced back strongly in the July-September period after the pandemic-driven recession in the first half of the year.

But the pace of growth has started to slow after a boost from the Eat Out to Help Out scheme and summer staycations faded – and hopes for a so-called “V-shaped recovery” have been dashed after the announcement of a new lockdown.

Source: Sky News