Published on : Thursday, October 22, 2020
The UK tourism and recreation sector is one of just two UK sectors to record an outright decline in output in September. In addition, the sector is one of just three UK sectors behind the global benchmark for economic recovery from corona virus facing new restrictions. Tourism and recreation includes hotels, restaurants and leisure facilities.
The UK tourism and recreation sector had returned to growth in August for the first time since February but in September it registered an outright output decline struggling with new restrictions.
Eleven out of fourteen UK sectors witnessed output go up faster than the global benchmark during September, two fewer than in August as healthcare [51.3] and tourism and recreation [43.7] fell behind together with transportation [43.7].
Continuing restrictions on international air travel contributed to the UK’s transportation sector [43.7] being furthest behind the international standard. The metals and mining sector [67.3] in contrast was furthest ahead.
UK manufacturing businesses outperformed the services sector for a seventh consecutive month during September.
Jeavon Lolay, the head of economies and market insight, Lloyds Bank Commercial Banking said, “The September data reveals a deceleration in the pace of global recovery. While the UK’s recovery momentum remains ahead of the global curve, its lead over its international counterparts has narrowed as the initial impetus gained from re-opening the economy fades.
Future growth will hinge on the path of the pandemic, and in particular the degree to which a rising number of new infections can be contained.”
Tags: UK Tourism