UK GDP grew by 2.1% in August, driven by a strong return to growth from the hospitality sector as lockdown measures continued to ease, in the country's fourth consecutive month of economic growth.
ONS data published today shows the accommodation and food services sector grew by 71.4% in August, contributing 1.2% to overall economic growth. Education and construction were also contributors, adding 0.35% and 0.19% respectively to GDP growth. GDP has now grown by 8% in the three months to August 2020, as lockdown measures continued to ease, with all the headline sectors providing a positive contribution. August 2020 GDP is now 21.7% higher than its April 2020 low, but the ONS warned it remains 9.2% below the levels seen in February 2020, before the full impact of the coronavirus p...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
