The economy recorded its third consecutive month of growth in July, growing 6.6 per cent month-on-month, according to data released this morning by the Office for National Statistics. City economists had forecast a 6.7 per cent month-on-month rise in gross domestic product (GDP), following 8.7 per cent month-on-month growth in June. More than two thirds of the growth came from service industries — including pubs, restaurants and hotels — as lockdown restrictions eased, the ONS reported. Despite the growth, however, the ONS calculates that the UK economy is still 11.7 per cent smaller than in February, before the full impact of the coronavirus hit. Darren Morgan, director of economic statistics at the ONS, said: “While it has continued steadily on the path towards

Source: The Times September 11, 2020 07:52 UTC