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COVID-19: GDP sees record rebound in third quarter

The UK economy grew by a record 15.5% in the third quarter but remains 8.2% smaller than before the pandemic, official figures show.

Data from the Office for National Statistics showed gross domestic product (GDP) bounced back strongly in the July-September period after the pandemic-driven recession in the first half of the year.

But hopes for a so-called “V-shaped recovery” have been dashed after rising coronavirus case numbers prompted the government to announce a second lockdown.

GDP is widely expected to go into reverse again in the final quarter of 2020 – though there are hopes that after that a new vaccine could see the economy return to pre-COVID levels more quickly than previously expected.

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