Commenting on this morning’s UK GDP announcement, Melanie Baker, senior economist at Royal London Asset Management said:
“The UK economy bounced back strongly in Q3, while remaining one of the worst hit by the COVID-19 crisis.
“Although vaccine developments have brought hope of a return to some semblance of ‘normal life’ next year, there is quite a long way to go before the economy gets back to where it was pre crisis.
“Despite the 15.5% quarter on quarter non-annualised record gain, output in September was still 8.2% below February levels.
“Now, with England in lockdown, a contraction in output looks likely in Q4.”
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