UK Economy Grows 2.3% in April as Economic Opening Fuels Gains in Service Sector

UK Economy Grows 2.3% in April as Economic Opening Fuels Gains in Service Sector

(Office for National Statistics) UK’s growth expanded the fastest in April 2021 since July last year, after posting a 2.3% jump in gross domestic product.

monthly index, january 1997 to april 2021, UK

Growth of UK’s GDP was fueled by the easing of coronavirus restrictions which saw service sector gain 3.4% in April

Growth was also boosted by rapid vaccinations, with almost 60% of the population having received the first dose.

The growth in UK GDP still remains 3.7% lower than February 2020 before the coronavirus and was below expected 2.5% expansion.

The increased vaccinations have seen the UK government plan to lift all restrictions on June 21, although the rise in India’s delta variant could delay the plans.

Analysts project further growth of the UK economy in May after more easing of coronavirus restrictions.

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