Lockdown has crippled British retail, the country heading for a double recession

The UK Is Heading Into A Double-dip Recession After The Latest Lockdown

The UK is heading into a double-dip recession after the latest lockdown in November led to a decline in business activity. That's according to a survey by IHS Markit. According to preliminary data, the British Purchasing Managers' Index (PMI) fell to 47.4 points in November from 52.1 points in October, ending a four-month period of growth. The news.sky.com portal informs about it. IHS chief economist Markit Chris Williamson said: "Data from the November survey suggests a double-dip recession, as lockdown measures have again led to a slump in business activity in large parts of the economy." He added that the prospects for the new year remain "very uncertain", but the mood has improved "especially for new reports of successful vaccine tests, which finally provides many companies with a light at the end of the tunnel." The total number of shoppers in retail outlets in the United Kingdom fell by as much as 55.4 percent year-on-year between the week and 21 November. This was stated by the research company Springboard. The worst situation is in regional city centers, where the number of customers in stores has fallen by an average of 64.4 percent, while in central London it has fallen by as much as 80.4 percent. In October, however, retail sales in Britain rose, for the sixth month in a row and more than economists estimated. The reason was probably the earlier start of Christmas purchases, which was also supported by discounts at retailers before the announced lockdown.