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When pubs re-opened and in July, the British took the opportunity to pass out.
This helped the economy grow for the third month in a row.
After falling to a record 20% in the quarter, production rose to 6. 6% in July.
But the slower-than-expected rate of expansion.
And the economy is still 12% smaller than its pre-pandemic level.
In reaction to the knowledge published on Friday, one economist told Reuters that GDP is likely to show record expansion in the third quarter.
But he added a cautionary note, noting that “July is probably the last of the major accelerations of activity” and that “a full recovery is probably not achieved until early 2022. “
This can cause the Bank of England to intensify its stimulus program for the purchase of bonds.
Hopes for an immediate rebound have been dashed as of late as corporations struggle to cope with social distancing regulations.
Many staff members are also reluctant to use public transport or busy areas.
Tensions between London and Brussels over a post-Brexit industrial agreement are also helping.
There are also fears that unemployment will rise dramatically, as the UK has decided to extend its job retention programme after October.