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United Kingdom, GDP is down 9.9% in 2020: the largest contraction in history

(Teleborsa) – The British economy is growing more than expected in the fourth chapter For 2020. The UK GDP showed a level 1% increase On a quarterly basis, after the 16.1% increase recorded in the previous three months. The number is slightly higher than + 0.5% of consensus.

According to ONS data, which provided the initial estimate, vDirectional ventilation shown at -7.8%After the previous rate of -9.6%, versus -8.1% for consensus. Despite growth for two consecutive quarters, the level of UK GDP is well below the level of the fourth quarter of 2019.

during During 2020, the GDP contracted by 9.9%%, Marking The largest annual decline in UK GDP ever recorded. And according to Refinitiv data, the waiver was a decline of 8%.

In the fourth quarter of 2020 it occurred Increases in service, manufacturing and construction, Although production from these industries has remained below pre-pandemic levels. There was more recovery in overall consumption, and to a lesser extent, in business investment.

(Photo: © Eros Erika / 123RF)


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