UK economy shrank by 2.6% in November
Andrew Crook - NFFF President
January 15, 2021

Following six consecutive monthly increases, including an upwardly revised 0.6% increase in October, monthly gross domestic product (GDP) fell by 2.6% in November 2020.

Restrictions were in place to varying degrees across all four nations of the UK during November. Restriction announcements for each nation are available:

November GDP fell back to 8.5% below the levels seen in February 2020 compared with 6.1% below in October 2020.

GDP fell by 2.6% in November 2020 as government restrictions reduced economic activity

ONS director for economic statistics Darren Morgan said: “The economy took a hit from restrictions put in place to contain the pandemic during November, with pubs and hairdressers seeing the biggest impact.

“However, many businesses adjusted to the new working conditions during the pandemic, such as widespread use of click and collect as well as the move online.

He added: “Manufacturing and construction generally continued to operate, while schools also stayed open, meaning the impact on the economy was significantly smaller in November than during the first lockdown.

“Car manufacturing, bolstered by demand from abroad, housebuilding and infrastructure grew and are now all above their pre-pandemic levels.”

Source: Office for National Statistics – GDP monthly estimate

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