-
Important news
-
News
-
Shenzhen
-
China
-
World
-
Opinion
-
Sports
-
Kaleidoscope
-
Photos
-
Business
-
Markets
-
Business/Markets
-
World Economy
-
Speak Shenzhen
-
Health
-
Leisure
-
Culture
-
Travel
-
Entertainment
-
Digital Paper
-
In-Depth
-
Weekend
-
Newsmaker
-
Lifestyle
-
Diversions
-
Movies
-
Hotels and Food
-
Special Report
-
Yes Teens!
-
News Picks
-
Tech and Science
-
Glamour
-
Campus
-
Budding Writers
-
Fun
-
Qianhai
-
Advertorial
-
CHTF Special
-
Futian Today
在线翻译:
szdaily -> World Economy -> 
UK’s economy grows more than expected
    2021-05-13  08:53    Shenzhen Daily

BRITAIN’S economy grew by a stronger-than-expected 2.1 percent in March from February, gathering speed for what is expected to be a sharp bounce-back this year after its deep coronavirus slump of 2020, official data showed yesterday.

The growth was led by the retail sector, the reopening of schools and the construction sector as the country began to emerge from its COVID-19 winter shutdown.

Economists polled had expected monthly growth of 1.3 percent.

In the first three months of 2021, when the country was under a third lockdown, gross domestic product shrank by 1.5 percent, the Office for National Statistics said, in line with the Bank of England’s latest forecast.

The Bank of England also said last week it expected the world’s fifth-biggest economy would recover quickly as coronavirus restrictions are lifted to grow by 7.25 percent in 2021 as a whole.

That would be its fastest growth since a Second World War rush to rearm but would follow a GDP collapse of 9.8 percent in 2020, which was almost the biggest in Europe and its deepest slump in over three centuries.

“Despite a difficult start to this year, economic growth in March is a promising sign of things to come,” British finance minister Rishi Sunak said.

“As we cautiously reopen the economy, I will continue to take all the steps necessary to support our recovery.”

Britain’s economy remained 8.7 percent smaller than at the end of 2019, before the pandemic hit the West. The Bank of England expects it will be back to its pre-pandemic size by the end of this year.

Britain’s economy has become more resilient to imposition of lockdowns since March last year and the 1.5 percent fall in the first three months of 2021 was much less severe than initial forecasts of a hit of around 4 percent. (SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010-2020, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@126.com