September 3, 2023

Posted by orrinj at 12:00 AM


UK Pulled Ahead of Germany in Economic Recovery From Covid (Bloomberg, 9/03/23)

The UK economy appears to have pulled ahead of Germany's in its recovery from the Covid-19 pandemic, with updated figures suggesting gross domestic product rose more quickly than thought.

GDP jumped 8.7% in 2021 as the economy bounced back from lockdowns, instead of the 7.6% previously estimated, the Office for National Statistics said Friday.  [...]

Assuming no change to growth rates since then, it implies the economy was 1.5% above pre-pandemic levels in the second quarter of this year, instead of 0.2% below.