Saturday, 16 Nov 2024

Britain bouncing back! UK economy grows despite lockdown as EU states face new measures

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According to the ONS, the economy showed signs of improvement thanks to the UK’s successful vaccine rollout. 

Following Brexit, exports to the EU have also begun to recover to levels seen before the UK’s exit from the EU. 

After the UK was a hit by a huge rise in cases in December, retailers saw an increase in figures towards the end of the quarter. 

Construction and car producers also bounced back somewhat following a chaotic January. 

A spokeswoman for the ONS said: “The economy showed some improvement in February after the large falls seen at the start of the year but remains around 8% below its pre-pandemic level.

“Wholesalers and retailers both saw sales pick up a little, while manufacturing improved with car producers experiencing a partial recovery from a poor January.

“Construction grew strongly after revised figures showed they had struggled in the last couple of months.

“Exports to the EU recovered significantly from their January fall, though still remain below 2020 levels.

“However, imports from the EU are yet to significantly rebound, with a number of issues hampering trade.”

Although figures have not recovered completely to pre-pandemic levels, the UK’s vaccine rollout is expected to help the economy surge in the second quarter. 

This is a breaking news story, more to follow…

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