UK economy shrinks after rising for 6 consecutive months


London, Jan 16 (IANS): The UK's gross domestic product (GDP) recorded a 2.6 per cent fall in November 2020 amid further Covid-19 lockdown restrictions in the country, following six consecutive months of growth, the Office for National Statistics (ONS) said.

The ONS data issued on Friday revealed that the November GDP fell back to 8.5 per cent below the levels seen in February 2020 (before the pandemic) compared with 6.1 per cent below in October 2020, reports Xinhua news agency.

The services sector acted as the main drag on growth in November, falling by 3.4 per cent monthly as restrictions on activity were reintroduced, said the ONS, adding that the services sector is now 9.9 percent below the level of February 2020.

Meanwhile, the output in the production sector dropped by 0.1 per cent monthly in November while the construction sector growing by 1.9 percent, said the ONS.

At present, millions of Britons are facing new strict lockdown measures requiring them to stay indoors as Covid-19 case have continued to spiral upwards.

The ONS data came as another 55,761 people have tested positive for Covid-19, bringing the total number of confirmed cases in the country to 3,325,642, according to official figures.

At least 1,280 have died within 28 days of a positive test, which increased the overall fatality toll to 87,448.

England is currently under the third national lockdown since the outbreak of the pandemic in the country.

Similar restriction measures are also in place in Scotland, Wales and Northern Ireland.

  

Top Stories


Leave a Comment

Title: UK economy shrinks after rising for 6 consecutive months



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.