UK GDP exceeds expectations in March
The UK economy rose 2.1% in March, at a better-than-expected level, marking its fastest growth month since last August.
The National Bureau of Statistics (ONS) said Wednesday that economists had previously forecast growth of 1.3%.
– Advertising –
The UK economy also showed resilience in the second wave of the pandemic as it signed 1.5% in the first quarter of 2021 and achieved strong growth in March. Again, expectations exceeded as a 1.7% contraction was initially predicted.
During the first quarter, government spending supported the economy as the government increased spending on vaccinations and testing, but consumer spending and business investment fell when the third lockdown came into effect .
The Bank of England said it expects the UK economy to recover quickly as coronavirus restrictions have risen 7.25% throughout 2021.
“Despite the difficult start of this year, economic growth in March is a promising sign of what’s going forward,” said British Prime Minister Rishi Snack.
“As we carefully reopen the economy, I will continue to take all the necessary steps to support the recovery.”
“We’re committed to providing a range of services to our customers,” said Ian Warwick, managing partner at Deepbridge Capital. “The UK GDP rose 2.1% in March, and “Today’s monthly GDP estimate reveals the fastest monthly growth since August 2020, further showing that the economy is moving in a critical direction. It’s proof. Pace.
“Because we are focused on economic recovery, it is very important that scale-up businesses are supported, especially in growth sectors such as digital technology and life sciences. As we create an economy that is perfect for the 21st century, we will be able to create the right economy. Because they are at the very heart of economic growth.”
“Government initiatives such as the Enterprise Investment Scheme (EIS) have become more important than ever to help entrepreneurs and innovators raise the funds they need, but to support the UK to private investors. It also offers tax incentives to develop private equity portfolios. As EIS funds reached record funding levels in 2020/21, there is a significant demand from investors and financial advisors. Yes, it is clear that they will invest in early stage UK companies that they believe are at the forefront of economic recovery.”
