UK Economy Shrinks by Record 9.9% in 2020 on Fallout From Covid-19 Pandemic: Report

Britain's economy shrank by a record 9.9 percent last year on the fallout from the coronavirus pandemic, despite a 1.0-percent gain in the fourth quarter, official data showed Friday.

"Over the year 2020 as a whole, GDP contracted by 9.9 percent, marking the largest annual fall in UK GDP on record," the Office for National Statistics said in a statement.