Economy continues to grow

Economy grows for third consecutive monthOffice for National Statistics (ONS) figures show that GDP rose for the third consecutive month in April, with the economy growing 2.3% as the easing of lockdown measures delivered a rebound in consumer spending. While the increase marks the fastest monthly growth since July 2020, the economy is still 3.7% below a pre-pandemic peak recorded in February 2020. Analysis shows that GDP grew by 1.5% in the three months to April compared with the previous three months. While GDP shrank by 1.5% in Q1, on a monthly basis the economy has been recovering ever since a 2.5% contraction in January, posting growth of 0.7% in February and 2.1% in March. Chancellor Rishi Sunak said that the ONS figures released yesterday were "a promising sign that our economy is beginning to recover".