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Official figures show that the British economy contracted by 1.5% in the first quarter of 2021, a relatively modest contraction given that the country was in the midst of a strict lockdown to combat a second wave of the coronavirus. The Office for National Statistics also said Wednesday that the economy even managed to grow by 2.1% in March when the country began easing some of the restrictions. The overall first quarter figures provide further evidence that businesses and consumers have adapted to the constraints of lockdown by increasing their online activities. In the second quarter of 2020, when the first lockdown was in place, the British economy contracted by a fifth.
Jon Hudson, fund manager of Premier Miton UK Growth fund, said the inflation rate should continue to rise amid high consumer demand post-lockdown and supply challenges such as higher raw material costs, component shortages and increasing freight charges .
Quilter Investors portfolio manager Paul Craig argued the rise in inflation reflected a turning point in the UK s economic reaction to the coronavirus pandemic, with price growth now on an upward trajectory, and should remain so for some time to come .
He added that inflation may move markedly higher if the end of lockdown restrictions leads to a waterfall of consumer spending.
As UK eases COVID-19 restrictions, people gulp down 2.8 million litres of beer in a day - Britain recorded four coronavirus-related deaths, the lowest daily increase since early September last year, the official data showed on Monday.
Jumpin Jab Flash: Mick Jagger riffs on UK lockdown lifting in new song Mick Jagger, 77, posted on YouTube that he wanted to share this song that I wrote about eventually coming out of lockdown, with some much needed optimism . British rock icon Mick Jagger. Picture: @therollingstones/Facebook.com.
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LONDON - British rock legend Mick Jagger has released a new song celebrating the release from the prison walls of lockdown, as England this week reopened pubs and non-essential shops. Now we re out of these prison walls. we re all headed back to paradise, the fully vaccinated Rolling Stones frontman sings on