The UK’s Gross Domestic Product (GDP) grew between July and September at a rate of 1.3 % compared to the previous three months, when the British economy had grown by 5.5 %, according to the first published estimate by the National Statistical Office (ONS).

In this way, the second largest economy in Europe was still 2.1 % below the level of activity registered in the fourth quarter of 2019, the last full quarter before the impact of the pandemic and the containment measures implemented.

Between July and September, consumer spending grew by 2 %, far from the 7.2 % rebound recorded in the second quarter of this year, when restrictions were lifted due to the pandemic.

In monthly terms, UK GDP grew 0.6% in September, accelerating from the 0.2 % expansion seen in August, after contracting 0.2 % in July.

The Bank of England recently cut its estimate of UK economic growth to 7 % in 2021 and 5% in 2022, compared to 7.25% and 6 %, respectively, which it had estimated last August.

K. Tovar

Source: El Confidencial

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