British economic recovery falters during the summer
ABC News
Britain's economic recovery has lost momentum during the summer despite the widespread lifting of coronavirus restrictions as supply chain issues took their toll
LONDON -- Britain's economic recovery lost momentum during the summer despite the widespread lifting of coronavirus restrictions as supply chain issues took their toll, official figures showed Wednesday.
While the Office of National Statistics said the economy eked out some modest growth in August as bars, restaurants and festivals benefited from the first full month without coronavirus restrictions in England, the 0.4% increase was slightly lower than anticipated.
The agency also revised down July's figure from 0.1% growth to a 0.1% decline as a result of weaker data from a number of industries, highlighting the choppy nature of the economic recovery.
Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown said weakness is “seeping through” the figures especially in the construction sector, which has now reported four straight months of negative growth.
