UK economy avoided double-dip recession at end of 2020 despite Covid


ONS figures show GDP shrank 9.9% last year, the biggest decline since the Great Frost of 1709

Britain’s economy shrank by the most in 300 years in 2020 amid the fallout from the coronavirus pandemic but has avoided a double-dip recession, according to official figures.

The Office for National Statistics said gross domestic product (GDP) fell by 9.9% in 2020 as no sector of the economy was left unscathed by lockdown and plummeting demand during the pandemic. It was the biggest fall in annual GDP since the Great Frost of 1709.

Continue reading…


Please enter your comment!
Please enter your name here