Article preview: The figures are in and the UK economy officially shrank by 9.9% last year, due to Covid-19 restrictions. The Office for National Statistics (ONS) reported that this was a record contraction for the UK economy, more than twice as big as the previous worst year on record. Economic records on this basis have been maintained since the end of the Second World War, and GDP has not fallen by more than 4.1% in a year since then.
Record decline for UK GDP in 2020
This 541-word blog post looks at the latest official economic figures from the ONS, showing the decline in the size of the UK economy in 2020. Written on 12th February 2021.
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