Recent revisions to official economic data indicate that the UK’s recovery following the coronavirus pandemic was more robust than initially believed. Updated statistics, which reflect improvements in methodology and data sources, reveal that gross domestic product in the final quarter of 2023 stood at 2.2% above its level at the end of 2019. This contrasts with earlier estimates that placed the increase at just 1.9%. The revised figures were published by the Office for National Statistics, offering a slightly more optimistic outlook on the nation’s economic trajectory in the post-pandemic period.
— news from Bloomberg.com
— News Original —
UK Economy Recovered From Covid More Strongly Than Thought
The UK economy had a stronger recovery after the coronavirus pandemic than previously thought, according to improved official estimates. n nNew figures that incorporate methodological and data source changes indicate that gross domestic product was 2.2% above end-2019 levels in the fourth quarter of 2023, instead of only 1.9% higher, a release from the Office for National Statistics showed.