GDP declines 9.9% in 2020, worst crisis since 1709

Here comes the turn The uk: On what data Public interest litigationThe 2020 It is also confirmed as a dark year for the English nation, still struggling today with an aggressive epidemic.

Specifically, the numbers on GDP indicate that the country’s economy grew at a double pace in the fourth quarter, but is not available with Worst result from 1709.

Smoothie Public interest litigation Was there: what to expect in 2021 The ukThe Recovery or New Recession?

United Kingdom: GDP Plummet in 2020

British GDP, in preliminary figures, increased 1% compared to the third quarter, fueled by a jump in construction and public expenditure.

This posed the risk of a second recession earlier this year, but its contraction was abandoned. 9.9% for all of 2020The biggest decline after 1709.

In the fourth quarter GDP was Dell 7,8% Lower than in the previous year, below pre-epidemic levels than any other economy in the G7 group.

Production rose 1.2% in December alone, making up for some of the losses of the previous month, when the nation was shut for four weeks.

This suggests that citizens are following better restrictions than last spring, when the economy loses about one-fifth of its value.

What is the forecast for the UK economy?

The newly released results suggest future projections on the UK’s fate: what will happen to its economy?

Opinion of Bank of england It will develop with the advent of the campaign Vaccination Carpet.

Central bank chief economist Andy Haldane expects consumers to be almost free 250 billion pounds ($ 345 billion) savings so far, with estimates that: “In a year, annual growth can be double digits”.

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However, the probability of recovery depends on the depth of the scar left by the epidemic. Some hope that GDP will soon return to its pre-crisis level, suggesting that Britain will have to live together High unemployment rate And debt.

The Bank of England expects a sharp contraction for this quarter due to this restriction.

Johnson Starting March 8, the economy is under pressure to ease tight measures.

The hope is in the vaccine that will secure the reopening of schools and businesses. there GBPMeanwhile, she changed soon after the report. Trading in London was down 0.1% at $ 1.3797 at 7:14 am.

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