Stronger Than Expected December Growth Sees The UK Avoid A Double Dip, But Suffer The

The Caithness Business Index has posted the following article:

Stronger Than Expected December Growth Sees The UK Avoid A Double Dip, But Suffer The Biggest Output Fall In Over 300 Years

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Responding to the latest ONS GDP figures, which show that the economy grew by 1.2 per cent in December, and by 1 per cent in the final three months of 2020, but fell by 9.9 per cent over 2020 as a whole (making it the biggest annual economic contraction since 1709), James Smith, Research Director at the Resolution Foundation, said: "The economy continued to grow at the end of last year, despite public health restrictions, as firms continued to adapt to restrictions by shifting their working patterns and even business models. "Positive growth in the last quarter of 2020 means the country is likely to avoid a double dip recession, despite the economy being set to contract in early 2021. [Read Full Article]