Sunday, March 7, 2021

UK GDP plummets 9.9% in 2020 and has worst recession since 1709 – Prime Time Zone

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The drop was not even bigger because the month of December had intense activity due to Christmas

EFE/EPA/ANDY RAIN – 03/11/20The next results of the local GDP should remain negative due to the closing of the company since December

No war, political instability or any other crisis has been able to have such a negative impact on the British economy as the coronavirus. The National Bureau of Statistics, local equivalent to IBGE, released on Friday, 12, the data of the START do UK you 2020. A economy of the country shrank 9.9% last year – the worst result since 1709, when the country faced one of the worst winters in history. The drop was not even greater because December saw intense activity due to Christmas, which prevented a second recession.

But the effects of lockdown protests are undeniable: the UK is in its second quarantine and does not yet know when it will end. The expectation is that the lockdown will continue here until at least April, to prevent a new wave of contamination from occurring. The balance between economic activity and public health is quite difficult to achieve under current conditions. Remembering that the effects of Brexi, which were hidden by a bigger crisis, but also contribute to the bad moment. And the British, who have one of the countries most affected by Covid-19, also have the developed economy that is bleeding the most.

The next results of the local GDP should remain negative due to the closure of society since December, but the good news is that the vaccination campaign is in full swing with a quarter of the adult population already immunized. The number of daily positive cases of the disease across the country has dropped nearly 30% this week. Deaths were reduced by 25% in the same period and hospitalizations also fell by more than 20%. The coronavirus curve is down now – and the sacrifices of the economic field must continue for a few more weeks to try to control the situation.

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UK GDP plummets 9.9% in 2020 and has worst recession since 1709 - Prime Time Zone