Business
UK economy contracted by 1.5% in first quarter as country experienced lengthy lockdown
London: The economy of United Kingdom (UK) has shrunk by 1.5% in the first quarter of 2021, as the country experienced a lengthy winter lockdown.
According to details, the government’s Office for National Statistics released data revealing that school closures and a large fall in retail sales earlier in the quarter dragged down economic growth.
The economy is now 8.7% smaller than where it was before the coronavirus pandemic emerged.
However, there was a strong recovery in March with the economy growing 2.1% boosted by retail spending and the return of schools.
"The strong recovery seen in March, led by retail and the return of schools, was not enough to prevent the UK economy contracting over the first quarter as a whole, with the lockdown affecting much of the services sector," said Darren Morgan, ONS director of economic statistics.
However, the ONS said the construction industry had grown strongly and was now above its pre-pandemic level.
Earlier yesterday, zero coronavirus deaths were reported in England, Scotland and Northern Ireland on Monday, while Wales recorded four deaths.
According to details, the country has speed up its vaccine drive with almost two-thirds of adults across the United Kingdom (UK) have now received a Covid-19 vaccine, with almost 18 million people having had their second dose.
Following drop in cases, restrictions in the country would be eased.