The UK economy grew slower than expected in August as the country struggled to recover from the massive recession recorded during the sanctions.
Data from the UK Office for National Statistics (ONS) shows that gross domestic product (GDP) in August increased by only 2.1% from 6.4% recorded in the previous month and deviated from market expectations for growth of 4.6%.
In addition, the growth rate was also seen to have risen 21.7% higher than recorded in April, but still 9.2% lower than when Covid-19 did not hit the UK in February.
The government has also made various efforts to increase consumer spending by introducing the ‘Eat Out to Help Out’ scheme, but the monthly growth rate is still seen to be slow.
Meanwhile, data also showed UK GDP recorded a growth of 8% in the three months to August, recovering from five consecutive contraction periods since March.
There are now concerns that the economic recovery may be lost, especially when the Covid-19 case returns to record growth in the country.
