GDP (MoM) (UK)

The UK economy took a hit during the coronavirus lockdown months. In February the economy shrank by 0.1%, while in March the contraction deepened to -5.8%, but in April we saw the biggest contraction ever at -20.5% in Q2, which was revised lower to -19.8%. After the reopening, the UK economy rebounded strongly. Although, since November numbers have been volatile, as restrictions increased. But, with the reopening the economy started to grow again posting a 2.1% expansion in March and in April it grew by 2.3%. Although. It has been positive since then, but it cooled off to 0.1% in July while in August is expected to come at 0.5%. In January we saw a decent jump of 0.8% after a contraction in December, but GDP turned negative at -0.1% in March, April was worse at -0.3% while May came at 0.5%. The UK Economy contracted again in June by 0.6%, while July showed a 0.2% expansion. In September we saw a 0.2% expansion but October is expected to show a contraction of -0.1%. Please follow us for live coverage in real-time of the event by experienced analysts.