4.1 C
Munich

The UK economy ended 2020 better than expected

Must read

LONDON (AP) – Official data show that the British economy ended 2020 on a stronger-than-expected basis, but that it suffered a larger-than-expected decline in output immediately after the first blockade of the coronavirus.

In its latest revision of the 2020 data, the Bureau of National Statistics said on Wednesday that the British economy shrank by 19.5% in the second quarter, in the first full quarter. It was worse than the 19% initial estimate. However, the economy is said to have recovered by 16.9% և 1.3% in the third and fourth quarters, which is better than previous estimates of 16.1% և 1%.

Overall, according to the agency, the British economy finished 2020 by 9.8%, slightly better than the previous estimate of 9.9%. Despite the modest revision, last year’s contraction was the deepest in 300 years.

The British economy has suffered from one of the deepest coronavirus recessions in the developed world, with many blaming the Conservative government’s continued failures to block further restrictions, including the one that came into force in early January. In general, Great Britain had the deadliest outbreak of European coronavirus. More than 126,000 people have died after testing positive for COVID-19.

Still, the combination of declining coronavirus infections. New cases occur at 5,000 a day, reaching a peak of almost 70,000 a day in early January, and the rapid spread of vaccines raises hopes for economic activity in the spring. as blocking restrictions are removed.

The British government, which is responsible for blocking Britain, has set out to ease the restrictions in the coming weeks, but insists it will be guided by “data, not timing”. Other UK countries, such as Scotland, Wales and Northern Ireland, are following similar blocking schedules.

In mid-April, the British government hopes that retailers in England who sell unnecessary items such as shoes and books will be able to reopen. It is planned that the pubs will reopen outside from that date, and the service will be closed on May 17.

___

Follow the AP Epidemic Coverage:

https://apnews.com/hub/coronavirus- epidemic

https://apnews.com/hub/coronavirus- vaccine

https://apnews.com/Und UndingingtheOutbreak:

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article