UK economy 'will never return to how it was': Industry reacts to latest GDP figures

Lauren Mason
clock • 3 min read
The UK economy grew at its fastest monthly rate since July last year

The UK economy grew at its fastest monthly rate since July last year

The UK economy grew at its fastest monthly rate since July last year, having jumped 2.3% in April as lockdown restrictions continued to ease.

While the largest jump in almost a year, the latest GDP stats came in slightly below the consensus forecast of 2.4%. In a year-on-year comparison, GDP in April grew by 27.6% compared to the same month last year. Jonathan Sparks, CIO, UK and Channel Islands, private banking and wealth management at HSBC, said investors have grown accustomed to erratic GDP figures since the pandemic, but that today's data confirms the UK "reached a turning point in April", when the re-opening of non-essential retail and easing of hospitality restrictions boosted spending. All eyes on the Fed's next m...

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