Wales’ economy first in the UK to return to pre-Covid size according to official data
Wales’ economy has become the first in the UK to return to its size before the pandemic, according to official data by the ONS.
Despite some politicians raising concerns that Wales’ stricter Covid rules would hinder economic performance, Office of National Statistics figures suggested that Wales had turned to pre-2020 growth faster than the other parts of the state.
The figures published today are the first estimates by the ONS of quarterly growth, and show that Wales’ GVA grew 0.9% – returning to where output was at the end of 2019.
In comparison, the GVA of the West Midlands remains a full -9.8% smaller than it was before the pandemic struck. Northern Ireland’s economy has also almost returned to its pre-pandemic size at 1.1% smaller, with London at 1.5%.
The UK economy as a whole is expected to surpass its pre-crisis size in the second quarter of this year, the ONS said.
Wales’ Covid restrictions continue to be stricter than England and Northern Ireland, both of which have removed measures backed by law and moved to guidance. Scotland have said that their restrictions will end on March 21.
Wales is expected to confirm any further easing on 4 March.
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So where are the hymns of praise interlaced with groveling apologies from Andrew RT Davies?
The reasons why Wales has “bounced back” first probably have a lot to do with the grinding poverty and inequality that 12 years of Tory austerity has left Wales as the poorest region in Western Europe.
He only grovels when facing the rising sun…
Last time I checked the WG was primarily responsible for the Welsh economy.
Check harder. Primarily responsible for parts of it. Westminster screwed up the whole EU funding thing then reneged on promises of matched funding to our more gullible voters
Wasn’t the message also that Swansea was bouncing back more quickly than Cardiff on basis that larger cities were more slow in bouncing back?
Bouncing back quickly is a good thing, of course, but worry would be that it’s happened because the economy was smaller to start with – I think this is is an oversimplification and that confidence in measures is playing a role as well. Let’s now kick on to grow the economy as well.
Boris fan by any chance?
Probably not… Just a realist.
By “realist” you mean somebody that doesn’t like good news from Cymru so need to try to undermine it
No. I mean someone who realises that.Wales has a smaller economy and therefore it got back to pre-pandemic levels more quickly than the larger economies will.
Yes that’s what I said. Always has to play Cymru down.
It’s not playing Cymru down at all. It’s simply facing facts. Hopefully the country can go on and far exceed the pre-pandemic levels.
Statistics don’t work like that. The fact that Wales’ economy wasn’t great before the pandemic doesn’t impact the statistics of recovery. Yes, if Wales’ economy dropped 10%, and London’s economy dropped 10%, the monetary difference in London would be greater, however, we are talking percentages, not pounds. Statistically the impact would be the same and it is statistically that this article is referring to. Yes, Wales is not in a good place but this is still good news. Statistically speaking that is.
Despite the worst efforts of Westminster, Wales regularly proves it CAN so why don’t we?
But, but, but, we pay no tax, we are spongers, we are worthless, we speak an offensive language, we depend on England as we are clearly useless without their oh so generous help, but, but, but…
Da iawn Cymru! 👍🏴
Don’t tell the Tor*es, they will take credit, can’t wait to see RT tweet that Welsh gov took his advice….
Fell from a low base thanks to London centred indifference, or malice, take your pick. Now it has bounced back let’s make it bounce even higher.