London, November 12: The United Kingdom’s economy rebounded by 15.5 percent in the third quarter of the financial year 2021. According to preliminary figures published on Thursday, The Gross GDP of the UK recovered by 15.5 percent in July to September as lockdown measures were eased during this period. Coronavirus Lockdown: UK, Italy, Spain, France, Canada Go For A Second Lockdown After Second Wave Of COVID-19.
Though UK’s GDP rebounded by 15.5 percent, it is still 9.6 percent down as compared to the third quarter last year and 9.7 percent below than what it was at the start of 2020 before the outbreak of COVID-19. UK Announces Month-Long Lockdown as COVID-19 Tally Crosses One Million Mark.
According to a report published in CNBC, GDP expanded by 6.3 percent in July, but slowed to 2.2 percent in August and 1.1 percent in September. According to experts, the UK economy may dip as the country is currently under a month-long partial lockdown. UK Slips to First Technical Recession As Economy Shrinks 20.4% in Q2 Amid COVID-19 Induced Lockdown.
On November 1, UK Prime Minister Boris Johnson declared the latest stay-at-home rules for England after the cases rose drastically in the country. The second COVID-19 restrictions will remain in place till December 2. Till now, over 12 lakh people have contracted COVID-19 in the UK, while more than 50,000 people succumbed to the deadly virus.
(The above story first appeared on LatestLY on Nov 12, 2020 04:56 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).