The British Economy Grew by 2.1% in August, But Below Expectations

The UK economy grew by 2.1% in August M-o-M, as the country’s gradual recovery from the coronavirus crisis continued, albeit at a slightly slower pace.

Estimated growth in UK gross domestic product for the month of August was below expectations, with economists in a Reuters poll forecasting 4.6% monthly growth.

The country’s exit from lockdown measures in the last month has also paved the way for recovery in many sectors of the economy, but cases of Covid-19 have grown significantly in recent weeks as a second wave appears to be underway.

The British government imposed ten o’clock in the evening Curfews on bars and restaurants across the UK, with further restrictions expected in the coming weeks.

As of Friday morning, the UK had confirmed 564,502 cases and 42,682 deaths, according to data compiled by Johns Hopkins University.

On September 24, British Finance Minister Rishi Sunak announced a new emergency package of measures to contain unemployment