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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