Summary List Placement

The UK economy shrank 2.6% in November as an increase in coronavirus infections and fresh restrictions exacted a heavy toll, official figures have shown, putting the country on track for a double-dip recession.

November’s drop meant the economy was 8.5% smaller than it was in February 2020, having been 6.1% smaller in October.

Since November the UK government has tightened lockdown measures, meaning more pain is yet to come for the economy.

Ministers are focused on rolling out coronavirus vaccines, however, which they hope will allow growth to start bouncing back in the spring.

The 2.6% contraction in details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com