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MNI INTERVIEW: End Of Covid Activity Drags UK Down Q2 GDP

(MNI) London
(MNI) London

The ONS says the phasing out of test and trace and Covid vaccinations was a major factor behind the UK's GDP contraction.

True

The phasing out of Covid-19 related activity in the three months to June, along with slower household spending, were the main reasons behind a decline in GDP, without which, the economy would probably posted a small positive growth number, the Office for National Statistics said Friday.

“Health was the biggest drag on the economy in Q2 as both the test and trace and vaccine programs were wound down," ONS Director of Economic Statistics Darren Morgan told MNI.

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The phasing out of Covid-19 related activity in the three months to June, along with slower household spending, were the main reasons behind a decline in GDP, without which, the economy would probably posted a small positive growth number, the Office for National Statistics said Friday.

“Health was the biggest drag on the economy in Q2 as both the test and trace and vaccine programs were wound down," ONS Director of Economic Statistics Darren Morgan told MNI.

Keep reading...Show less