UK economy shrank 1.5% in first quarter: official data

General view of the skyline of the financial district of Canary Wharf as the sun sets, in London, Saturday, May 8, 2021. (Photo: AP)

Britain's economy contracted by 1.5 percent in the first quarter as the country suffered a fresh coronavirus lockdown, official data showed on Wednesday.

The UK however is currently exiting lockdown at a gradual pace, allowing the economy to recover from pandemic fallout.