ao link

You are viewing 1 of your 2 articles

To continue reading register for free, or if you’re already a member login

 

Register  Login

UK economy shrank by 19.1% in the three months to May

The UK economy shrank by 19.1% in the three months to May, and by a record of 20.4% in April, according to new data produced by the Office for National Statistics (ONS).

 

However figures show a 1.8% growth of economic output during May, compared with April.

 

The ONS's monthly analysis for economic output in May shows that, as in April, there was widespread evidence of "severe disruption” in the food and hospitality sectors, due to the government-enforced closure of pubs, restaurants and cafés.

 

Accommodation services continued to decline in May, whereas food and beverage services showed a small pickup, thanks to an increase in restaurant and takeaway activity. However output from pubs and bars continued to decline, with a reported turnover of £40m for pubs and bars in May, compared with £1.96b in May 2019.

 

Speaking on Sky News, chancellor Rishi Sunak said the country had moved through the “acute” phase of the crisis but that the shape of the recovery would not be known “for a while”.

 

Photo: Shutterstock

Newsletter sign up

Stay informed with all the latest

Newsletter Sign Up

Stay informed with the latest news

 

Sign Up

People Awards 2024

People Awards 2024

Plant-Based World Expo

Plant-Based World Expo

Social Media Summit 2024

Social Media Summit 2024

Hotel Cateys

Hotel Cateys

Queen's Awards for Enterprise

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

Jacobs Media

Jacobs Media is a company registered in England and Wales, company number 08713328. 3rd Floor, 52 Grosvenor Gardens, London SW1W 0AU.
© 2024 Jacobs Media

We use cookies so we can provide you with the best online experience. By continuing to browse this site you are agreeing to our use of cookies. Click on the banner to find out more.
Cookie Settings