GDP falls 2.6% in November as UK nears double-dip recession

Following six months of growth

Monthly gross GDP fell by 2.6% in November, bringing an end to six consecutive months of growth, as the government imposed fresh restrictions owing to the coronavirus pandemic.

The latest figures from the Office for National Statistics (ONS), published today (15 January), show GDP fell by 8.9% in the 12 months to November 2020. Odey's Tim Bond: Coronavirus optimism is reminiscent of the Global Financial Crisis Services bore the brunt of the economic impact, with output falling by 3.4% and all 14 subsectors affected. Accommodation and food service activities were the worst affected in November within the services sector, the output of which is now 9.9% below the level of February 2020. The production sector also fell marginally by 0.1% in November, and ...