Britain’s economy was ‘cautiously backed up’ in May from the heavy blows previously caused by the corona crisis. According to the British statistics agency, the economy grew by 1.8 percent that month compared to April, when it shrank by more than 20 percent.
To be honest – it’s nothing at all. It is anything but ‘revival’. If it be so ‘cautious’ it will extend recession to the whole year.
The growth was less strong than expected, because economists generally expected a plus of 5.5 percent. The British economy benefited in May from the gradual easing of lockdown measures, bringing public life back to normal. Factories also reopened and construction work resumed.
In the period of March, April and May, an economic contraction of more than 19 percent was seen, under pressure from the lockdown measures.