UK emerges from historic recession, economy rebounds 15.5% in third quarter

According to the official data released by the Office for National Statistics (ONS) on Thursday, the United Kingdom’s economy has rebounded by 15.5% in the third quarter. The country has emerged from a historic recession as initial coronavirus lockdown measures were relaxed.

“UK gross domestic product (GDP) is estimated to have grown by a record 15.5% in July to September… as lockdown measures were eased,” the ONS said in a statement.

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However, the economy is still 9.7% less than before this year’s coronavirus-induced recession after a massive contraction in the second quarter.

Britain entered an unfortunate recession after falling by a record 19.8% in the second quarter after 2.5% in the first, the ONS said.

The GDP numbers do not yet reflect the impact of the UK’s second round of stay-at-home lockdown restrictions that were imposed last week to curb increasing COVID-19 infection and death rates.

The data was published one day after Britain passed the grim landmark of 50,000 people, who have died from the deadly disease.