Article preview: New official figures show that the UK economy shrank in size by 1.5% in the first quarter of 2021. Despite a contraction in GDP in the first three months, there is room for optimism in the Office for National Statistics (ONS) figures. Economic growth appears to have returned in March, aided by easing lockdown restrictions. In its first estimate for March, the ONS says that the economy grew by 2.1%, helped by reopening schools and strong consumer spending on the High Street.
UK economy declines in the first quarter, but the future is bright
This 428-word blog post looks at the latest official figures for the UK economy in Q1 2021. Written on 12th May 2021.
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