Economic recovery in United Kingdom resumes in July

COVID-19 British economy grows for third straight month expands by 6.6% in July

About 8 mln Britons face tighter lockdown rules as UK reaches "critical time" in virus fight

Britain's economy grew for a third month running in July as pubs and restaurants reopened, according to the latest data from the Office of National Statistics.

U.K. GDP shrank by a record 20.4% in the second quarter of 2020.

Faisal Islam, BBC economics editor, also pointed out that July's GDP growth was slower than the 8.7% increase reported in June - thereby raising some concerns about the ongoing strength of the bounce back.

The second quarter contraction was the largest the United Kingdom had seen since 1955.

ONS data showed that the GDP grew by 6.6 percent in July compared with the previous month, following a monthly growth of 8.7 percentage in June and 2.4 percentage in May.

ONS director of economic statistics Darren Morgan said: "While it has continued steadily on the path towards recovery, the United Kingdom economy still has to make up almost half of the GDP lost since the start of the pandemic". However, it remains 12% below the levels seen in February, before the full impact of the coronavirus pandemic.

In three months to July, GDP fell 7.6 percent from the previous three months.

Darren Morgan, ONS director of economic statistics, said that "while it has continued steadily on the path towards recovery, the United Kingdom economy still has to make up almost half of the GDP lost since the start of the pandemic".

"All areas of manufacturing, particularly distillers and vehicle makers, saw improvements, while housebuilding also continued to recover". FXStreet noted forecasts had predicted 5% manufacturing production growth.

Howard Archer, at E&Y's Item Club said: "It was particularly encouraging to see all output sectors of the economy make strong contributions to growth in July".

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