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UK economy shrinks after rising for 6 consecutive months

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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.




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