According to statistics of August, despite the revival of the restaurant sector, the growth of the UK economy is still slow and the growth in this month was only 2.1%. The BBC writes about this.
According to the publication, this number is lower than expected and is 9.2% lower than before the pandemic. It is also lower than the figures for June and July. The British economy grew by 8.7% in July and by 6.6% in July.
As the publication writes, the August data worried economic experts, as they suggested that the economic situation should have increased even more as a result of the removal of the imposed restrictions and the opening of a retailer business.
The UK Bureau of Statistics says that although growth in all major sectors of the economy is lower than in February, the country continued to grow in August, albeit at a relatively slower pace.
According to Samuel Thombs, chief economist at Pantheon Macroeconomics, the economy grew poorly in August despite significant government restrictions. He predicts also low growth will be observed in September and it is expected to reach only 2%.
According to experts, if the government wants higher economic growth, it must create additional jobs and provide material support to the population that needs it.