UK GDP Recovery Back on Track

UK GDP had experienced a period of recovery after having suffered the biggest drop on record in Q2 2020. After firing back up again in Q3 and to a slighter extent in Q4. For the start of the year though, revised Office for National Statistics revealed a 1.6 percent fall in Q1 2021 - revised down from 1.5 percent. As this infographic shows, things are heading in the right direction again as of Q2, with a rebooted accommodation sector fueling the resurgence.

According to the ONS: "UK gross domestic product is estimated to have increased by 5.5% in Quarter 2 (Apr to June) 2021 following the easing of coronavirus restrictions. This is revised from the first estimate of a rise of 4.8%." There is still some way to go though, as the ONS also highlighted: "The level of GDP in the UK is now 3.3% below where it was prior to the coronavirus pandemic at the end of 2019, revised from 4.4%"