THE UNITED Kingdom’s economy has seen a promising rebound that has brought the country out of recession.

Between July to September the economy grew by 15.5%, although this began to slow down near the end of the three months.

This came after the country was brought to a halt during the Covid lockdown which started in March.

While signs of improvement are showing the economy is still 8.2% smaller than it was before the pandemic.

The Mail:

Barrow MP Simon Fell said: “These figures are a very pleasant surprise and a testament to the measures that the Chancellor has put in to protect the economy and enable growth against the backdrop of COVID.

“But we shouldn’t get carried away - there will be ups and downs in the coming months.”

Jo Lappin, Chief Executive of Cumbria Local Enterprise Partnership and Chair of the Business and Economic Response and Recovery Group (BERRG), said: “Today's growth for the UK economy in the three months from July to September is obviously welcome news, following the record fall that we saw in the spring.

“Cumbria, as with the UK, saw a large initial labour market hit from March to May. However, over the period to September the labour market situation in Cumbria has improved in comparison to the UK.

“This is likely to be due to a combination of the particularly significant role of furlough through the Coronavirus Job Retention Scheme and relatively strong recovery in the hospitality sector in Cumbria. Clearly, this is relative as things have not returned to where they were pre-COVID, and the implications of a further, though less extensive lockdown, remain to be seen.

“Currently, the experience to date suggests that Cumbria is faring slightly better than the UK on most economic indicators and we need to be optimistic that this will continue, going forward.”

The Mail:

Commenting on the news that the economy bounced back Cumbrian MP Tim Farron said: “Today’s news proves that the Government made a good investment in supporting jobs and businesses throughout the first lockdown.

“Not only was it the compassionate thing to do for the many people whose livelihoods were at risk, but it was the right thing to do by the economy. It meant that, rather than having a load of dead firms, you had businesses ready to spring back into action.

“We can see an even stronger recovery next Spring if the Government commits to support jobs and businesses through the Winter.

“The extension of the furlough and self-employment support schemes are very welcome, but we need to see the Chancellor extend support grants for businesses and to finally help the excluded.”