Subtitles section Play video Print subtitles mhm, Britain's economy recovered faster than expected in the third quarter. That's according to official data released Tuesday. It showed gross domestic product grew a record 16% from July to September. That was not enough, though, to make up for its near 19% slump in Q two, when much of the country was shut down. Household income grew as many workers went back to work after temporary layoffs. Consumer spending rose by almost 1/5 as households spent savings piled up during the previous quarter when people were ordered to stay at home. But the Bank of England says this summer's positive GDP figures will not be repeated in Q four. It predicts GDP will shrink again as worries about the Brexit deadline on December 31st, a new lock down restrictions take hold. Tuesday's data showed the economy was 8.6% below where it was at the end of 2019, less than an initial estimate of 9.7%. The economic updates came as government borrowing also soared in the first eight months of the year. New figures show the UK borrowed a record $323 billion around 255 billion MAWR than in the same period the previous year. The country's budget forecasters think the deficit will hit around $537 billion over the financial year, close to 20% of GDP. If so, it will be double the hit from the global financial crisis.
B1 gdp grew record financial previous economy UK GDP grew by record 16% in Q3 6 0 林宜悉 posted on 2020/12/24 More Share Save Report Video vocabulary