United kingdom. The UK’s GDP fell 1.5% in the first quarter

Madrid, 12 (Europe Press)

The gross domestic product of the United Kingdom, the second largest European economy, recorded a contraction of 1.5% in the first quarter of 2021, after growing by 1.3% in the last three months of last year, according to the National newspaper. Office of Statistics (ONS).

In this way, Britain’s GDP in the first quarter of 2021 was 8.7% below the level reached in the fourth quarter of 2019, the last full before the impact of the COVID-19 pandemic.

In the first three months of the year, British household spending decreased by 3.9%, compared to a 1.7% decline in the previous quarter, while government spending increased by 2.6%. Of its kind, gross fixed capital formation decreased by 2.3% after rising by 4.4% in the fourth quarter of 2020.

By sectors, services recorded a contraction of 2% in activity in the first quarter, and 8.7% below the fourth quarter of 2019 level, while production decreased by 0.4% and is now 3.6% lower than the fourth quarter of 2019.

For its part, the construction sector expanded by 2.6% between January and March, although compared to the full last quarter before the pandemic, the level of activity was 3.4% lower.

READ  The United States lifts the penalties for the International Criminal Court

Leave a Reply

Your email address will not be published. Required fields are marked *