UK growth slows to a ‘snail’s pace’ as Covid-19 restrictions hit economy – business live

  • Date: 10-Dec-2020
  • Source: The Guardian
  • Sector:Economy
  • Country:Middle East
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UK growth slows to a ‘snail’s pace’ as Covid-19 restrictions hit economy – business live

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Britain's economy has slowed sharply as the rise in Covid-19 infections and tiered restrictions imposed across the country hit activity.

UK GDP rose by just 0.4% in October, new figures from the Office for National Statistics show.

That's the weakest monthly expansion since the UK returned to growth in May after the first Covid-19 lockdown.

It shows that the economy was already weakening before last month's English lockdown. It also means the UK economy is still 7.9% lower than the levels seen in February 2020, before the pandemic struck the country.

The Office for National Statistics says:

With a backdrop of further national measures being introduced in response to the coronavirus pandemic, monthly GDP grew by 0.4% in October 2020. This is the sixth consecutive monthly increase following a record fall of 19.5% in April 2020.

October 2020 GDP is now 23.4% higher than its April 2020 low. However, it remains 7.9% below the levels seen in February 2020, before the full impact of the coronavirus pandemic.

UK monthly GDP to October Photograph: ONS

Covid-19 infections rose sharply through October, as the second wave of the virus hit