UK recovery cools in June despite hospitality surge â Lloyds
LONDON (Reuters) â Britainâs economic bounce-back from the coronavirus lockdowns cooled in June despite a surge in business for the countryâs hospitality sector, according to a survey which echoed other signs that the recovery has lost some of its pace.
Five of 14 sectors monitored by Lloyds Bank reported faster growth last month. Pubs, restaurants and other hospitality firms reported their strongest performance in nine years for as restrictions on indoor service were lifted.
But the overall expansion slowed from May, when 11 out of 14 sectors reported accelerating growth.
âThe slowdown of output growth across the majority of sectors shows we are entering a new phase of the UKâs recovery,â Jeavon Lolay, head of economics and market insight at Lloyds Bank Commercial Banking, said.