British economy rose to 4.8% in Q2
The British economy has bounced back by 4.8% in the second quarter of 2021 due to the government’s initiative to relax its lockdown restrictions, according to the latest data released by the Office for National Statistics (ONS).
Finance minister Rishi Sunak said that these figures reveal that the economy “is on the mend showing strong signs of recovery.”
This latest figure is seen as an improvement after the country’s Gross Domestic Product (GDP) had decreased by 1.6% in Q1. However, the total UK output remains 4.4% lower compared to 2019’s final quarter.
The Confederation of British Industry (CBI) economist Alpesh Paleja commented that the “Growth bounced back over the second quarter as restrictions on activity were gradually lifted, underscoring that tackling the pandemic goes hand-in-hand with supporting economic growth.”
Britain’s quick economic recovery is also due to its fast-paced vaccination program that has seen nearly 89% of adults given at least one dose.