UK GDP saw its biggest drop in 300 years – data ...News

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UK GDP saw its biggest drop in 300 years – data
Revised data for 2020 showed the country’s economy shrank 11% The British economy shrank by 11% in 2020, its largest drop in 300 years, revised data from the UK Office for National Statistics (ONS) showed on Monday. The previous reading had been a 9.3% decline. This happened to be the biggest drop since the ONS began keeping records and the UK’s largest GDP slump since 1709, the year of the ‘Great Frost,’ when the country’s economy shrank by 13.4%, according to historical data provided by the Bank of England. The downward revision was triggered by new data showing the effect the Covid-19 pandemic had on healthcare

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