Jonathan Lamb, the chief executive of the Entrepreneurs’ Forum, has welcomed official figures that reveal the UK economy grew by 6.6 per cent in July – the third month in a row it has expanded.
He said: “It is hugely encouraging that the economy continues to respond positively from the lows of lockdown and this activity does suggest the start of a V-shaped recovery.
“The growth in the economy is largely fuelled by entrepreneur-led enterprises and certainly many of our members across the North East have successfully reassessed and refocused their businesses and are gearing up for future expansion.
“Many economists predict this trajectory will continue throughout the third quarter following the reopening of more sectors and businesses returning to near normal or normal capacity.
“Growth has been recorded in all major sectors and I predict this will continue, due in part to the reopening of the schools, but more significantly because of the efforts of entrepreneurial businesses.”
The figures, published by the Office for National Statistics on Friday 11th September, revealed that the construction sector experienced the greatest expansion with output up 17.6 per cent in July. The production sector, which includes manufacturing, grew by 5.2 per cent.