Newsflash: The Office for National Statistics (ONS) estimates the UK economy grew by 2.3% in April 2021, the fastest monthly growth since July 2020, as government restrictions affecting economic activity continued to ease. The data was marginally stronger than analysts had predicted.
The service sector was particularly robust, growing by 3.4% in April 2021 as non-essential retail reopened and high streets once again came to life.
April GDP is still 3.7% below the pre-pandemic levels seen in February 2020, but is now 1.2% above its initial recovery peak in October 2020. Other key takeaways from the ONS this morning:
- Output in the production sector fell by 1.3% in April 2021, the first fall since January 2021 as three of the four sectors contracted.
- Within production, mining and quarrying output contracted sharply, by 15.0%, in April 2021 because of planned temporary closures for maintenance of oil field production sites.
- The construction sector contracted by 2.0% in April 2021 following a strong March, with new work slowing down faster than repair and maintenance.
Below are reactions from small businesses around the UK to the April GDP data.