The UK economy unexpectedly grew by 0.2 percent in the latest quarter. This is the largest growth in more than a year.
The British economy grew mainly because manufacturing and construction performed better than expected in June, reports Britain’s Office for National Statistics.
Despite growth from April to June, the British economy is still 0.2 percent behind compared to the end of 2019, making it the only country in Europe with a large economy that has not yet reached levels prior to the coronavirus pandemic.
Big countries like Germany, France and Italy have recovered from the pandemic. Those economies grew between 0.2 and 2.2 percent. The United States is even more successful with growth of more than 6 percent.
Next week we will find out how the Netherlands is doing. Then the statistics agency CBS publishes figures on the growth of the Dutch economy.
Brexit and high inflation slow growth
The fact that the United Kingdom has not yet recovered economically has other causes besides the coronavirus crisis. Brexit and high inflation have slowed the country’s economic growth in recent years.
But the new figures have British Finance Minister Jeremy Hunt feeling positive. “The measures we are taking to combat inflation are beginning to have an effect,” he said. According to him, the country now has a “solid foundation” to grow the economy.
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