The UK’s GDP growth has been sluggish due to the outbreak of the Covid-19 pandemic, recording a six-month low as the hospitality sector has been affected. The country’s economy is expected to slump over the final three months of the year.
It is reported that the economy stumbled as the government imposed strict measures across the nation to contain the spread of the virus. The government earlier announced a partial lockdown last month across England.
The GDP surged 0.4 percent in October after expanding 1.1. percent a month earlier, marking the weakest growth since the beginning of the first lockdown. The reports have been produced by the Office for National Statistics.
The government has started to distribute a vaccine this week for limited people hoping that it would successfully work and expects a rebound next year. However, many businesses have to follow different rules and regulations in accordance with the European Union from the beginning of 2021.
Ruth Gregory, economist at Capital Economics, told the media, “The economy continued to grow in October, but at a snail’s pace. And with the Covid-19 restrictions likely to remain in place for some time, the economy is in for a difficult few months yet.”
The UK now has the highest Covid-19 fatalities among European nations and also suffered the biggest economic downturn with a 19.8 percent GDP slump in Q2.
It is reported that the country’s output was 7.9 percent lower than it was before the pandemic. The government is expected to implement new policies to rebound the economy.