Economic Monitor
UK Economy rebounds in Q2
The second quarter saw very rapid economic growth. The easing of restrictions and the steady headway in the vaccination programme allowed households to go out and spend. The UK economy expanded by 4.8% in Q2, following a contraction of 1.6% in Q1. Despite the solid Q2 rebound, GDP remained 4.4% below its Q4 2019 level. Most economists believe now that the economy will recover the lost output from the pandemic in the fourth quarter of the year.
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