Rolling coverage of the latest economic and financial news after UK growth figures were released for August
Digging further into the UK GDP data, the 2.1% rise in August marks the fourth consecutive monthly increase since GDP plunged by a record 19.5% in April.
UK GDP is now 21.7% higher than its April low.
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
And importantly: happy UK GDP day. Though how happy you are about the pace of Britain’s recovery depends on how you look at the numbers.
While the latest data confirms a rebound in economic activity continued into August, the sharp slowdown in growth indicates that the recovery may be running out of steam, with output still well below pre-crisis levels.
The increase in activity in August largely reflects a temporary boost from the from the economy reopening and government stimulus, including the Eat Out to Help Out Scheme, rather than proof of a sustained ‘V’-shaped recovery.
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