UK economy suffers record 9.9% slump in 2020 – business live

Rolling coverage of the latest economic and financial newsLatest: UK shrank 9.9% last year - “worst on record”But economy avoids double-dip recession with 1% growth in Q4 Introduction: UK GDP report due todayBoE chief economist: economy is a coiled spring 7.32am GMT Chancellor of the Exchequer, Rishi Sunak, says:“Today’s figures show that the economy has experienced a serious shock as a result of the pandemic, which has been felt by countries around the world. While there are some positive signs of the economy’s resilience over the winter, we know that the current lockdown continues to have a significant impact on many people and businesses.“That’s why my focus remains fixed on doing everything we can to protect jobs, businesses and livelihoods. 7.30am GMT This chart shows how the UK economy performed last year: Continue reading... https://www.theguardian.com/business/live/2021/feb/12/uk-gdp-economy-growth-covid-19-slump-ftse-pound-business-live #business #economics #economic_growth_(gdp) #stock_markets #ftse