Accomodation and Logistics Power UK GDP Recovery
This article is published in collaboration with Statista
by Martin Armstrong
As the latest GDP figures released today show, things are again heading in the right direction for the UK economy, and as this infographic shows, it was a rebooted accommodation sector fueling the resurgence. According to the ONS: "UK gross domestic product is estimated to have increased by 4.8% in Q2, following the easing of coronavirus restrictions. Monthly estimates show that GDP increased across all three months at 2.2 percent in April, 0.6 percent in May and 1.0 percent in June."
From May to June, output attributed to the accommodation sector grew by 27.8 percent, closely followed in the services industries by air transport with 25.4 percent. According to the ONS though: Output was still 24.3% below its February 2020 level". Adding: "As June 2021 was the first full calendar month where hotels in England were allowed to reopen under the government's roadmap, there was particularly strong growth."
Start leaning Data Science and Business Intelligence tools: