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UK economy grows more than expected in March
Economists polled by Reuters had expected monthly growth of 1.3 percent.
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Britain's Finance Minister Rishi Sunak. (AFP/Ben Stansall)
B
ritain's economy grew by a stronger-than-expected 2.1 percent in March from February, gathering speed for what is expected to be a sharp bounce-back this year after its deep coronavirus slump of 2020, official data showed on Wednesday.
Economists polled by Reuters had expected monthly growth of 1.3 percent.
In the first three months of 2021, when the country was under a third coronavirus lockdown, gross domestic product shrank by 1.5 percent, the Office for National Statistics said, in line with the Bank of England's latest forecast.
The BoE also said last week it expected the world's fifth-biggest economy would recover quickly as coronavirus restrictions are lifted to grow by 7.25 percent in 2021 as a whole.
"Despite a difficult start to this year, economic growth in March is a promising sign of things to come," British finance minister Rishi Sunak said.
"As we cautiously reopen the economy, I will continue to take all the steps necessary to support our recovery."
