Audio By Carbonatix
The UK economy grew by a record 15.5% in the third quarter but remains 8.2% smaller than before the pandemic, official figures show.
Data from the Office for National Statistics (ONS) showed gross domestic product (GDP) bounced back strongly in the July-September period after the pandemic-driven recession in the first half of the year.
But hopes for a so-called "V-shaped recovery" have been dashed after rising coronavirus case numbers prompted the government to announce a second lockdown.
GDP is widely expected to go into reverse again in the final quarter of 2020 - though there are hopes that after that a new vaccine could see the economy return to pre-Covid levels more quickly than previously expected.
Chancellor Rishi Sunak, said: "Today's figures show that our economy was recovering over the summer, but started to slow going into autumn.
"The steps we've had to take since to halt the spread of the virus mean growth has likely slowed further since then.
"But there are reasons to be cautiously optimistic on the health side - including promising news on tests and vaccines.
"There are still hard times ahead, but we will continue to support people through this and ensure nobody is left without hope or opportunity."
Britain's third quarter growth figure was slightly short of expectations - economists had on average pencilled in expansion closer to 16%.
A monthly breakdown of the data also showed that the pace of recovery from the recession was slowing.
GDP grew by just 1.1% in September, a fifth consecutive month of increase but down from 2.2% in August and 6.3% in July.
It was 8.2% below its level in February and 9.7% down from the end of 2019.
Jonathan Athow, ONS deputy national statistician for economic statistics, said that all main sectors of the economy continued to recover in September.
"The return of children to school boosted activity in the education sector," Mr Athow said.
"Housebuilding also continued to recover, while business strengthened for lawyers and accountants after a poor August.
"However, pubs and restaurants saw less business, after the 'eat out to help out' scheme ended, and accommodation saw less business after a successful summer."
Latest Stories
-
Leila Djansi questions NFA’s appeal for Film Fund donations
7 hours -
The ‘Our Day’ Dilemma: A cherished Ghanaian tradition that has become a high-pressure cooker
7 hours -
UHAS celebrates 2026 International Day
8 hours -
Maison Yusif launches ‘The Beast’ fragrance, eyes global expansion from Ghana
9 hours -
NSMQ 2026 : St. Louis SHS returns to nationals after thrilling comeback in Ashanti region qualifiers
10 hours -
“Data is the new gold” – Prof. Kwofie leads charge for AI-driven, equitable Africa
10 hours -
Lights for Life Movement urges fixing of faulty traffic lights to save lives
10 hours -
Doctor uses cash reward of GH¢20,000 to equip Paga Hospital
10 hours -
Free but expensive education in Ghana – Free SHS in retrospect
10 hours -
Justice must heal a nation, not become a weapon of revenge
10 hours -
Six students injured as fire destroys House Master’s apartment at Leklebi SHS
10 hours -
Mid-Year Budget Review: What happened to the GH¢40m promise to Ghana’s creative industry?
10 hours -
Tafo Government Hospital children’s ward 85% complete ahead of my 45th birthday – Nana B
12 hours -
Kessben FM yanks DJ K.A. ‘off air’ over intimate video circulated online; Investigation underway
12 hours -
Ghana, Nigeria commit to stronger trade cooperation under AfCFTA
12 hours