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Graph shows how insignificant the UK's economic growth of 1.8% is

1 month ago   |   By Metro

The UK's economic growth is actually much smaller than it sounds, with only a tiny uptick in May
The UK economy grew by 1.8% in May, it was revealed today - which is good news as it shows recovery is on the horizon as the country heads towards a new normal.
But a new graph has put this into sharp context, showing that in comparison with the huge drop in gross domestic product during the pandemic, this slight growth is fairly insignificant.
The first graph below, released by think tank the Resolution Foundation, shows 1.8% growth is the largest month-on-month rise in seven years - with a...
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The UK economy is doing even worse than we thought, and the prospects of a V-shaped recovery look bleak

The UK economy is doing even worse than we thought, and the prospects of a V-shaped recovery look bleak

1 month ago   |   By Business Insider

The UK's economy grew by only 1.8% in May, falling well below economists' predictions.
Reuters economists were expecting a 5.5% increase, after 20.3% contraction in the UK economy in April.
The small scale of the recovery suggests that the much-vaunted V-shaped recovery some economists expect in the UK is a long way away.
"The economy was still a quarter smaller in May than in February, before the full effects of the pandemic struck," ONS statistician Jonathan Athow said.
Visit Business Insider's homepage for more stories .
The UK's economy grew by a much smaller amount than expected in...
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UK economy grew 1.8% in May as recovery from Covid-19 slump begins - business live

1 month ago   |   By The Guardian

Rolling coverage of the latest economic and financial news, including the first estimate of UK GDP in May Introduction: UK economy grew 1.8% in May - weaker than hoped Manufacturing and production grew, but services struggled UK GDP slumped 19.1% in last three months Coronavirus - latest updates See all our coronavirus coverage 7.57am BST Here's the chancellor of the Exchequer, Rishi Sunak, on today's GDP figures: “Today's figures underline the scale of the challenge we face. I know people are worried about the security of their jobs and incomes. “That's why I set out our Plan for Jobs...
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UK economy grew 1.8% in May but output still a quarter below pre-crisis levels

1 month ago   |   By Belfast telegraph

The UK economy grew by 1.8% in May as activity began to recover with the easing of coronavirus lockdown but remained a quarter below its pre-pandemic levels, according to official data.
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UK economy shrinks by one-fifth during lockdown

1 month ago   |   By The Independent

GDP grew by 1.8 per cent as coronavirus lockdown eased but remained quarter below pre-pandemic levels
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Start of the recovery? UK economy grew 1.8 per cent in May

Start of the recovery? UK economy grew 1.8 per cent in May

1 month ago   |   By Daily Mail

Official figures showed GDP grew by 1.8 per cent in May, although it is still nearly a quarter lower than before the draconian coronavirus restrictions were imposed.
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UK GDP grows by 1.8% in May as hopes for a V-shaped recovery diminish

1 month ago   |   By Evening Standard

The UK economy grew by 1.8% in May as the economy started to unlock.
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UK economy grew 1.8% as lockdown started to ease

UK economy grew 1.8% as lockdown started to ease

1 month ago   |   By Metro

The UK economy grew by 1.8% in May as activity began to recover as the coronavirus lockdown eased, according to the ONS
The UK economy grew by 1.8% in May as activity began to recover as the coronavirus lockdown eased, the Office for National Statistics has said.
Jonathan Athow, ONS deputy national statistician, said: ‘Manufacturing and house-building showed signs of recovery as some businesses saw staff return to work.
‘Despite this, the economy was still a quarter smaller in May than in February, before the full effects of the pandemic struck.
‘In the important services sector we saw...
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