UK Economy Shrank Record 11% in 2020, Worst Since 1709
KONTAN.CO.ID - LONDON. Britain recorded its biggest fall in output in more than 300 years in 2020 when it faced the brunt of the Covid-19 pandemic, as well as a larger decline than any other major economy, updated official figures showed on Monday.
Gross domestic product fell by 11,0% in 2020, the Office for National Statistics said said. This was a bigger drop than any of the ONS's previous estimates and the largest fall since 1709, according to historical data hosted by the Bank of England.
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