August 23, 2022 2:35 PM
UK record its biggest fall since 1709; GDP fell by 11.0 per cent in 2020
The United Kingdom has recorded its biggest fall in output in more than 300 years in 2020 due to COVID-19 pandemic, according to Office for National Statistics(ONS). The Office for National Statistics in a statement yesterday said that Gross Domestic Product (GDP) fell by 11.0 per cent in 2020. According to historical data hosted by the Bank of England, this was a bigger drop than any of the ONS's previous estimates and the largest fall since 1709. The Office for National Statistics&...