Elon's Vision
  • Contacts
  • Privacy Policy
  • Terms & Conditions
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Elon's Vision
No Result
View All Result
Home Investing

UK economy grows by 4.8% but misses Bank of England forecasts

by
August 12, 2021
in Investing
0
UK economy grows by 4.8% but misses Bank of England forecasts
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

UK economic growth rose by 4.8% between April and June, according to official figures, falling short of Bank of England forecasts.

Data from the Office for National Statistics showed that the expansion in gross domestic product (GDP)was uneven over the second quarter.

The Bank of England said it expected GDP to rise by 5% over the period when most of the economy reopened.

Accommodation and food services surged, as did retail, helped by Euro 2020.

The growth in activity, fuelled by the easing of social distancing restrictions, was strongest in sectors hard-hit under lockdowns such as wholesale and retail, hotels and restaurants.

The ONS also said education output jumped during the second quarter as schools reopened.

However, vehicle production tumbled by 16.7%, which the ONS said was because of “a global semiconductor shortage”.

The UK economy is now 4.4% smaller than it was before the pandemic.

The ONS said that growth expanded by 1% in June, but revised down the figure for May from 0.8% to 0.6%.

The growth was in line with economists’ average forecast, but slightly less than the Bank of England anticipated.

At the end of the quarter in June, the monthly growth is estimated at 1%, slightly more than most economists expected.

Read more:
UK economy grows by 4.8% but misses Bank of England forecasts

Previous Post

TUC calls on Treasury to create permanent furlough scheme

Next Post

UK’s quarantine hotel rules face legal challenge

Next Post
UK’s quarantine hotel rules face legal challenge

UK’s quarantine hotel rules face legal challenge

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
  • Trending
  • Comments
  • Latest

Jay Bhattacharya on Public Health

October 12, 2021

That Bangladesh Mask Study!

December 1, 2021

Antitrust Regulation Assumes Bureaucrats Know the “Correct” Amount of Competition

November 24, 2021
Pints of champagne could be the next ‘Brexit dividend’

Pints of champagne could be the next ‘Brexit dividend’

December 24, 2021
Friday Feature: MCP Academy

Friday Feature: MCP Academy

0

0

0

0
Friday Feature: MCP Academy

Friday Feature: MCP Academy

May 9, 2025

P.T. Bauer’s Reminders on Foreign Aid

May 9, 2025
Luna Introduces PATRIOT Act Repeal Bill

Luna Introduces PATRIOT Act Repeal Bill

May 9, 2025
In Congress, a Move To Strip Courts of Contempt Powers

In Congress, a Move To Strip Courts of Contempt Powers

May 9, 2025

Recent News

Friday Feature: MCP Academy

Friday Feature: MCP Academy

May 9, 2025

P.T. Bauer’s Reminders on Foreign Aid

May 9, 2025
Luna Introduces PATRIOT Act Repeal Bill

Luna Introduces PATRIOT Act Repeal Bill

May 9, 2025
In Congress, a Move To Strip Courts of Contempt Powers

In Congress, a Move To Strip Courts of Contempt Powers

May 9, 2025

Disclaimer: ElonsVision.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • Contacts
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 ElonsVision. All Rights Reserved.

No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock

Copyright © 2025 ElonsVision. All Rights Reserved.