Rolling coverage of the latest economic and financial news
- UK economy returned to growth in Q2
- Growth faster than expected in June
- GDP up by 1% in June as restrictions eased, after 0.6% in May
Health, advertising, and restaurants and bars all helped drive growth in June.
Health contributed strongly to GDP, because visits to local doctors increased in June compared with recent months, the ONS says.
Continued strong growth means that the industry is now only 1.5% below its pre-pandemic level (February 2020), and 9.0% above its August 2020 peak when the Eat Out to Help Out Scheme boosted consumer demand for bars and restaurants.
The UK’s service sector led the recovery in June, expanding by 1.5%, as the return of indoor dining and the reopening of leisure venues in May boosted growth.
But manufacturing grew by a modest 0.2% during the month, and construction output shrank by 1.3%.
Continue reading...from The Guardian https://ift.tt/3yGjqPH
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