Support 100 years of independent journalism.

  1. Chart of the Day
30 September 2022

The UK is the only G7 economy not to have recovered from the Covid crash

Britain’s GDP remains 0.2 per cent below its pre-pandemic level in 2019.

By Ben Walker

The UK is the only G7 economy not to have recovered to pre-pandemic levels, according to revised data from the Office for National Statistics. The figures show that GDP for the three months to June this year remained 0.2 per cent below the level reached in the final quarter of 2019. Official data had previously suggested that GDP had risen 0.6 per cent above pre-pandemic levels.

This puts Britain at the bottom of the G7 league table. The United States' economy is 2.6 per cent above pre-pandemic levels, and the Canadian and French economies are up 1.7 per cent and 0.9 per cent up respectively.

However, the ONS did revise UK growth up for the second quarter of this year. Rather than contracting by 0.1 per cent, the British economy is now thought to have grown by 0.2 per cent, raising hopes that the country may avoid a formal recession (defined as two consecutive quarters of negative growth).

[See also: Why we can’t blame Covid for the state of schools]

Select and enter your email address Quick and essential guide to domestic and global politics from the New Statesman's politics team. A weekly newsletter helping you fit together the pieces of the global economic slowdown. The New Statesman’s global affairs newsletter, every Monday and Friday. The New Statesman’s weekly environment email on the politics, business and culture of the climate and nature crises - in your inbox every Thursday. Our weekly culture newsletter – from books and art to pop culture and memes – sent every Friday. A weekly round-up of some of the best articles featured in the most recent issue of the New Statesman, sent each Saturday. A newsletter showcasing the finest writing from the ideas section and the NS archive, covering political ideas, philosophy, criticism and intellectual history - sent every Wednesday. Sign up to receive information regarding NS events, subscription offers & product updates.
  • Administration / Office
  • Arts and Culture
  • Board Member
  • Business / Corporate Services
  • Client / Customer Services
  • Communications
  • Construction, Works, Engineering
  • Education, Curriculum and Teaching
  • Environment, Conservation and NRM
  • Facility / Grounds Management and Maintenance
  • Finance Management
  • Health - Medical and Nursing Management
  • HR, Training and Organisational Development
  • Information and Communications Technology
  • Information Services, Statistics, Records, Archives
  • Infrastructure Management - Transport, Utilities
  • Legal Officers and Practitioners
  • Librarians and Library Management
  • Management
  • Marketing
  • OH&S, Risk Management
  • Operations Management
  • Planning, Policy, Strategy
  • Printing, Design, Publishing, Web
  • Projects, Programs and Advisors
  • Property, Assets and Fleet Management
  • Public Relations and Media
  • Purchasing and Procurement
  • Quality Management
  • Science and Technical Research and Development
  • Security and Law Enforcement
  • Service Delivery
  • Sport and Recreation
  • Travel, Accommodation, Tourism
  • Wellbeing, Community / Social Services
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
THANK YOU

Content from our partners
Cybercrime is becoming more like a standard business
What are the green skills of the future?
A global hub for content producers, gaming and entertainment companies in Abu Dhabi
Topics in this article: ,