Saturday, 2 July 2022 – 18:14

UK economy grew 4.8% in second quarter following lockdown easements

The UK economy grew by 4.8% in the second quarter of the year, according to new data from the Office for National Statistics.

According to data published on Thursday, GDP increased by 4.8% with wholesale and retail trade, accommodation, food service activities and education among the sectors having the largest contribution towards this.

A significant number of lockdown restrictions were lifted during the quarter, which ran from April to June 2021, and the reopening of different parts of society is likely to have been a key factor in the boosting of the economic situation.

Gross domestic product (GDP) is now 4.4% below the level it was at before the coronavirus pandemic, with a strong Quarter 3 in 2020 and good Quarter 4 in 2020 helping increase GDP closer to pre-pandemic levels.

The 4.8% rise in Quarter 2 of 2021 comes after a fall in growth in Quarter 1, during which the country was in a stay at home lockdown.

The UK is now in Quarter 3, which runs up to September. The lifting of almost all coronavirus restrictions in England and other parts of the UK could further boost economic growth, though it is thought the effects of the ‘pingdemic’, including many businesses closing due to staff isolating, could impact July’s figures.

 

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