{"id":27622,"date":"2021-01-15T14:12:20","date_gmt":"2021-01-15T13:12:20","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=27622"},"modified":"2021-10-07T00:23:57","modified_gmt":"2021-10-07T00:23:57","slug":"uks-economy-shrinks-but-might-avoid-double-dip-recession","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/","title":{"rendered":"UK\u2019s economy shrinks but might avoid double-dip recession"},"content":{"rendered":"

By Reuters<\/strong><\/p>\n\n\n

Britain\u2019s economy shrank in November as it went into a new lockdown.<\/p>\n\n\n

But the decline was smaller than expected as businesses adjusted to social distancing and schools remained open, making a double-dip recession less likely.<\/p>\n\n\n

The 2.6 per cent monthly decline in Friday\u2019s official data was the first since April but less than half the average contraction forecast in a Reuters poll of economists.<\/p>\n\n\n

The scale was also far smaller than April\u2019s 18.8 per cent collapse during Britain\u2019s first lockdown.<\/p>\n\n\n

\u201cOverall, the growing immunity to lockdowns suggests that the economy is not quite as sick as we thought,\u2019\u2019 said Paul Dales, chief UK economist at Capital Economics.<\/p>\n\n\n

The world\u2019s sixth-biggest economy shrank more than its peers in the first half of 2020 and is now 8.5 per cent smaller than it was in February, before the start of the pandemic.<\/p>\n\n\n

A third, stricter lockdown that began this month is likely to cause Britain\u2019s economy to contract in the first quarter of 2021 when many businesses are facing post-Brexit barriers to trade with the European Union.<\/p>\n\n\n

\u201cIts clear things will get harder before they get better and today\u2019s figures highlight the scale of the challenge we face,\u2019\u2019 Finance Minister Rishi Sunak said.<\/p>\n\n\n

But Britain\u2019s roll-out of vaccines \u2013 which has been faster than elsewhere in Europe \u2013 was a reason to be hopeful, he added.<\/p>\n\n\n

Several economists warned that Britain remained at risk of a renewed recession, with the economy likely to shrink in both the final quarter of 2020 and the first three months of 2021.<\/p>\n\n\n

But others thought a contraction might be avoided in the fourth quarter because November\u2019s restrictions were lifted in December.<\/p>\n\n\n

BoE Governor Andrew Bailey said this week that it was too soon to say if further stimulus would be needed after the central bank ramped up its bond-buying programme to almost 900 billion pounds ($1.23 trillion) in November.<\/p>\n\n\n

Friday\u2019s data showed Britain\u2019s economy in November was 8.9 per cent smaller than a year earlier, compared with 6.8 per cent smaller in October.<\/p>\n\n\n

In April, when many businesses closed temporarily, output was a record 25 per cent below its year-ago level.<\/p>\n\n\n

November\u2019s downturn was led by services, where output fell 3.4 per cent from October as pubs, restaurants, non-essential shops and many other consumer services had to shut.<\/p>\n\n\n

Manufacturing grew by 0.7 per cent and construction by 1.9 per cent.<\/p>\n\n\n

Part of the scale of the damage to Britain\u2019s economy in 2020 reflects a decision by the ONS to take account of disruption to routine medical care and schooling caused by COVID-19, an approach which not all countries\u2019 statistics agencies have taken.<\/p>\n\n\n

The ONS said this was less of a drag on GDP in November.<\/p>\n\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

By Reuters Britain\u2019s economy shrank in November as it went into a new lockdown. But the decline was smaller than expected as businesses adjusted to social distancing and schools remained open, making a double-dip recession less likely. The 2.6 per cent monthly decline in Friday\u2019s official data was the first since April but less than […]<\/p>\n","protected":false},"author":1,"featured_media":2214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[416,217],"class_list":["post-27622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","tag-recession","tag-uk","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\nUK\u2019s economy shrinks but might avoid double-dip recession - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK\u2019s economy shrinks but might avoid double-dip recession - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"By Reuters Britain\u2019s economy shrank in November as it went into a new lockdown. But the decline was smaller than expected as businesses adjusted to social distancing and schools remained open, making a double-dip recession less likely. The 2.6 per cent monthly decline in Friday\u2019s official data was the first since April but less than […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/\" \/>\n<meta property=\"og:site_name\" content=\"The Freezone Channel\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-15T13:12:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-07T00:23:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2018\/07\/recessionpix.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"324\" \/>\n\t<meta property=\"og:image:height\" content=\"160\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"The Freezone Channel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Freezone Channel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/\",\"name\":\"UK\u2019s economy shrinks but might avoid double-dip recession - The Freezone Channel\",\"isPartOf\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2018\/07\/recessionpix.jpg\",\"datePublished\":\"2021-01-15T13:12:20+00:00\",\"dateModified\":\"2021-10-07T00:23:57+00:00\",\"author\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/96bf776ac18c24b9af3209b53d6372d3\"},\"breadcrumb\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/#primaryimage\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2018\/07\/recessionpix.jpg\",\"contentUrl\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2018\/07\/recessionpix.jpg\",\"width\":324,\"height\":160},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thefreezonechannel.com\/old\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"UK\u2019s economy shrinks but might avoid double-dip recession\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#website\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/\",\"name\":\"The Freezone Channel\",\"description\":\"The Freezone Channel\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/thefreezonechannel.com\/old\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/96bf776ac18c24b9af3209b53d6372d3\",\"name\":\"The Freezone Channel\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3f4e6030bdb5805ae43cd1d477fe145bf335374d0d4cf5fc6df5a21a74c2c20f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3f4e6030bdb5805ae43cd1d477fe145bf335374d0d4cf5fc6df5a21a74c2c20f?s=96&d=mm&r=g\",\"caption\":\"The Freezone Channel\"},\"sameAs\":[\"https:\/\/thefreezonechannel.com\"],\"url\":\"https:\/\/thefreezonechannel.com\/old\/author\/fzmainadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"UK\u2019s economy shrinks but might avoid double-dip recession - The Freezone Channel","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/","og_locale":"en_US","og_type":"article","og_title":"UK\u2019s economy shrinks but might avoid double-dip recession - The Freezone Channel","og_description":"By Reuters Britain\u2019s economy shrank in November as it went into a new lockdown. But the decline was smaller than expected as businesses adjusted to social distancing and schools remained open, making a double-dip recession less likely. The 2.6 per cent monthly decline in Friday\u2019s official data was the first since April but less than […]","og_url":"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/","og_site_name":"The Freezone Channel","article_published_time":"2021-01-15T13:12:20+00:00","article_modified_time":"2021-10-07T00:23:57+00:00","og_image":[{"width":324,"height":160,"url":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2018\/07\/recessionpix.jpg","type":"image\/jpeg"}],"author":"The Freezone Channel","twitter_card":"summary_large_image","twitter_misc":{"Written by":"The Freezone Channel","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/","url":"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/","name":"UK\u2019s economy shrinks but might avoid double-dip recession - The Freezone Channel","isPartOf":{"@id":"https:\/\/thefreezonechannel.com\/old\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/#primaryimage"},"image":{"@id":"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/#primaryimage"},"thumbnailUrl":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2018\/07\/recessionpix.jpg","datePublished":"2021-01-15T13:12:20+00:00","dateModified":"2021-10-07T00:23:57+00:00","author":{"@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/96bf776ac18c24b9af3209b53d6372d3"},"breadcrumb":{"@id":"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/#primaryimage","url":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2018\/07\/recessionpix.jpg","contentUrl":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2018\/07\/recessionpix.jpg","width":324,"height":160},{"@type":"BreadcrumbList","@id":"https:\/\/thefreezonechannel.com\/old\/uks-economy-shrinks-but-might-avoid-double-dip-recession\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thefreezonechannel.com\/old\/"},{"@type":"ListItem","position":2,"name":"UK\u2019s economy shrinks but might avoid double-dip recession"}]},{"@type":"WebSite","@id":"https:\/\/thefreezonechannel.com\/old\/#website","url":"https:\/\/thefreezonechannel.com\/old\/","name":"The Freezone Channel","description":"The Freezone Channel","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thefreezonechannel.com\/old\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/96bf776ac18c24b9af3209b53d6372d3","name":"The Freezone Channel","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3f4e6030bdb5805ae43cd1d477fe145bf335374d0d4cf5fc6df5a21a74c2c20f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3f4e6030bdb5805ae43cd1d477fe145bf335374d0d4cf5fc6df5a21a74c2c20f?s=96&d=mm&r=g","caption":"The Freezone Channel"},"sameAs":["https:\/\/thefreezonechannel.com"],"url":"https:\/\/thefreezonechannel.com\/old\/author\/fzmainadmin\/"}]}},"builder_content":"","_links":{"self":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts\/27622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/comments?post=27622"}],"version-history":[{"count":0,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts\/27622\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/media\/2214"}],"wp:attachment":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/media?parent=27622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/categories?post=27622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/tags?post=27622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}