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Recovery slows as economy heads for recession

Recovery slows as economy heads for recession

Business output rose for the third consecutive month in July, spurred by the lifting of lockdown restrictions, However, BDO's index rose by 6.7 points to 73.2 in July - less than the 11.16 points added in June – indicating that the pace of recovery is slowing as the economy prepares to enter recession. Kaley Crossthwaite, a partner at BDO, said: “The latest data suggests we might be approaching a plateau in our economic recovery. While the reopening of the hospitality sector has provided a much-needed uplift, the capacity restraints caused by social distancing, as well as pressures on UK manufacturers imposed by weakened overseas demand mean this growth is likely to continue to slow.”

Read more: The Independent


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