UK sees largest quarterly GDP jump since 1955

NEWS IN ENGLISH

The United Kingdom's gross domestic product (GDP) soared by 16 percent in the third quarter of the year compared to the previous trimester, the fastest quarterly increase since records began in 1955, the Office for National Statistics said in its report published on Tuesday. 

The figure has been revised up versus the previous estimate and has surpassed analysts' expectations.

The report noted that the British economy is still 8.6 percent below the pre-crisis level despite the significant gains made over the previous quarter. On a yearly basis, the country's economy tumbled 8.6 percent in the three months to September. 

Output in the services, production, and construction sectors, as well as private consumption, government consumption, and business investment, remained below their pre-lockdown levels.
The coronavirus pandemic and the uncertainty related to the end of the Brexit transition period impacted the results, the release concluded.
 

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