UK economy grew by stronger-than-expected 1% in June

Britain’s economy grew by a faster-than expected 1 per cent in June, boosted by the huge services sector as people resumed going to see their doctors following the pandemic and after many hospitality firms were allowed to resume indoor service in mid-May, official data showed on Thursday.

A poll of economists had pointed to month-on-month growth of 0.8 per cent in gross domestic product.

The UK’s Office for National Statistics also revised its estimate for growth in May down to 0.6 per cent from an originally reported 0.8 per cent increase but output growth in April was revised up to 2.2 per cent from 2 per cent.

Gross domestic product in the three months to the end of June was 22.2 per cent higher than in the same period of 2020, reflecting the impact of last year’s first coronavirus shutdown on much of the economy which contrasted with the lifting of restrictions in the second quarter of this year.

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The huge services sector grew by 1.5 per cent in June from May, with health activities contributing the most to services output and food and beverage services up by more than 10 per cent.

Industrial output shrank by 0.7 per cent, as maintenance of oil field production sites dragged on the sector, but manufacturing grew by 0.2 per cent.

Construction output fell by 1.3 per cent.

GDP was 2.2 per cent smaller at the end of June than it was in February 2020, before the pandemic struck the country.

The Bank of England forecasts it will regain its pre-Covid size in the final quarter of this year, later than the United States.