'Undoubtedly worrying figures': UK GDP rebounds by lacklustre 1.8%

Latest figures make for 'grim reading'

The UK’s GDP for May rebounded by 1.8%, according to figures from the Office for National Statistics (ONS) released today (14 July), falling 3.7 percentage points short of the 5.5% forecast by economists polled by Reuters.

While this is a small uptick, economic output remains at the lowest level seen in more than a decade as lockdown continued to hamper economic activity. Overall, the UK's GDP has fallen by 19.1% in the three months to May. 'Deeper' cuts from FTSE dividend giants shows Covid-19 has 'wrecked' income outlook Jonathan Athow, deputy national statistician for Economic Statistics, said: "Manufacturing and house building showed signs of recovery as some businesses saw staff return to work. Despite this, the economy was still a quarter smaller in May than in February, before the full effects...