The British economy fell twice as fast as the previous record

The British economy fell by almost ten percent.

The British economy contracted by a record 9.9 percent last year. The British Statistical Office (ONS) informed about it on Friday. The decline was the steepest since the start of data collection and more than doubled compared to the previous record. In December, however, the economy strengthened by 1.2 percent after a weakening of 2.3 percent in November. According to the ONS, hospitality services, car dealers or hairdressers compensated for some of the losses. The economy was also supported by a higher number of tests for coronavirus and tracing of infected persons. As a result, the economy grew in the fourth quarter, despite the introduction of further restrictions in November, said Jonathan Athow, a representative of the statistical office. Between October and December, Britain's gross domestic product (GDP) grew by one percent. Gross domestic product in the United Kingdom began to be measured on an annual basis after the end of World War II. The indicator has never fallen by more than 4.1 percent.