The Office for National Statistics (ONS) has announced that the UK economy rebounded from recession in July to September, although growth showed signs of slowing down at the end of the three-month period.
The UK’s economic growth of 15.5% in July to September was the biggest on record, said the ONS, following a six-month slump caused by the first national coronavirus lockdown.
Despite marking the fifth consecutive month of expansion, growth in September was at 1.1%, which was slower than the preceding months, and the country’s economy is still 8.2% smaller than before Covid-19.
The economy had shrunk in the first three months of 2020 and then contracted by a record 19.8% in the April to June period — the ONS generally defines two consecutive three-month periods of contraction as a recession.
