Sun. Sep 26th, 2021

“Accommodation and food service activities increased by 87.8% in the second quarter, while wholesale and retail trade increased by 12.8%, in response to the re-opening of indoor hospitality, Euro 2020 and the reopening of non-essential retail. The challenge for many businesses is going to be finding the people to deliver the services.

“Accommodation will be receiving a further boost in the coming months as international travel remains harder than it was pre-pandemic and with many people opting to “staycation” in the UK this summer.

“Education also received a big boost (+27.1%) as school reopened, albeit relatively briefly before the summer holidays.

“Construction output increased by 3.3% in the second quarter, reflecting a rise in new work (3.7%), particularly infrastructure, and repair and maintenance (with growth of 1.7%), although some businesses reported limited availability of certain construction products, most notably timber, steel, cement and tiles.

“We are now 4.4% below the level of GDP seen at the end of 2019 and given these rates of growth, it is likely that the UK will reach the end of 2019 level of GDP in the first quarter of 2022.”

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Wizadclick | WAC MAG 2021