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UK economy grew 15.5% in the third quarter, as it starts to rebound from record plunge

A man wearing a face mask or covering due to the Covid-19 pandemic, walks past a statue of The Beatles in Liverpool, north west England on October 2, 2020.

The U.K. economy grew by 15.5% in the third quarter, according to preliminary figures published Thursday, as it begins to rebound from a sharp downturn.

Economists polled by Reuters had expected a 15.8% quarter-on-quarter expansion in GDP (gross domestic product) in the three months to September. It comes after an unprecedented 19.8% plunge in the previous quarter as nationwide lockdown measures crippled activity.

The third-quarter bounce marks the U.K.’s sharpest quarterly expansion since records began in 1955, but GDP is still 9.7% below where it was at the end of 2019, the Office for National Statistics said Thursday. Compared with the third quarter of last year, GDP fell 9.6%. Read from source….