The performance of the British economy increased in April

By: Trademagazin Date: 2023. 06. 14. 11:19

After the decline in March, the performance of the British economy increased in April, according to the first estimate presented by the British Statistics Office (ONS) on Wednesday. Based on the latest data from the ONS, the British gross domestic product (GDP) expanded by 0.2 percent in the first month of the second quarter of this year.

In March, a month-on-month GDP decline of 0.3 percent was measured in Great Britain. According to the statistics office’s report on Wednesday, the performance of the British economy increased by 0.1 percent in the three months ending in April compared to the previous three-month comparison period that ended in January.

According to ONS calculations, the value of Britain’s gross domestic product was 0.3 percent higher in April than in February 2020, the last full month before the nationwide restrictions imposed in Great Britain from March 2020 to curb the coronavirus epidemic.

The British government first ordered a nationwide lockdown at the end of March 2020, and this – along with additional lockdowns ordered later – caused a free-fall in the performance of the British economy. In the whole of 2020, the British gross domestic product fell by an average of 11 percent – falling back to the 2013 level in real terms. The fall in GDP in 2020 was unprecedented in modern British economic history.