TokyoTokyo Mon - Fri 10:00-18:00 +81 (368) 662-975

UK economy grows 0.6% in Sept after weak summer – ONS

Mount Equity Group Tokyo Japan > News > Markets > UK economy grows 0.6% in Sept after weak summer – ONS

The City of London financial district can be seen as people walk along the south side of the River Thames, amid the coronavirus disease (COVID-19) outbreak in London, Britain, March 19, 2021. REUTERS/Henry Nicholls

LONDON, Nov 11 (Reuters) – Britain’s economy grew by 0.6% in September but estimates for previous months were revised lower, leaving GDP 0.6% smaller than it was in February 2020, shortly before the country went into its first COVID-19 lockdown.

The data painted a picture of an economy losing its post-lockdown momentum due to global supply chain problems and caution on the part of businesses.

Economists polled by Reuters had forecast monthly gross domestic product growth of 0.4% for September.

The Office for National Statistics said GDP in July fell by 0.2%, a bigger decline than a previously estimated fall of 0.1%, while output in August was shown rising by just 0.2%, weaker than an originally reported 0.4%.

“Although monthly…

Read more…