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LONDON (MNI)
UK growth declined by 9.9% in 2020, the largest annual fall on record, the Office for National Statistics said Friday, more than twice the 4.1% decline seen in 2009 at the height of the Global Financial Crisis.
Services performed significantly worse than in 2009, falling by 8.9% compared with a 2.5% decrease. Only the public administration sector experienced growth in 2020 compared with 5 of the 14 sectors increasing in 2009. Accommodation and food services performed worst, when comparing the growth rates between 2009 and2020, declining by 5.7% and 44.0% respectively.
Source: ONS GDP Report
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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