This is a record quarterly growth since 1955, reflecting the recovery of the British economy from the recession in the second quarter under particularly stringent quarantine measures – GDP then fell by 20.4%.
However, GDP in the third quarter remains 9.6% below the third quarter of last year. According to ONS, GDP growth also slowed during the quarter: 6.3% in July, 2.2% in August and 1.1% in September.
Last week, the Bank of England updated its GDP forecast for the coming years – it expects the UK economy as a whole to shrink by 11% in 2020 and to grow by only 7% next year.
At the end of October, the European Statistics Office also provided data for the third quarter: GDP in the eurozone rose by 12.7% during this period, while some countries showed even stronger growth: GDP in France increased by 18.2%.
source: bbc.com
