UK heads for double-dip recession as GDP falls 2.6% | Economic growth (GDP)

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The UK economy is heading for a double-dip recession after official figures confirmed a renewed slump in November as the second wave of the coronavirus pandemic took hold.

The Office for National Statistics said gross domestic product (GDP) fell by 2.6% in November from a month earlier, a period when the government launched the second national lockdown in England and amid tougher controls in Scotland, Wales and Northern Ireland. City economists had forecast a steeper fall of 5.7%.

Confirming the first step towards a double-dip recession, the latest official figures end six consecutive months of growth over the summer, when the UK economy had been recovering from the first wave of the crisis.

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Hafta Ichi
Source: The Guardian
Keyword: UK heads for double-dip recession as GDP falls 2.6% | Economic growth (GDP)

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