Some recovery in economy from overall lows

The UK economy exceeded expectations by growing by 16.9% and 1.3% in the third and fourth quarters of 2020, in an otherwise very poor year that saw an overall contraction of 9.8%, according to the Office for National Statistics (ONS).

The ONS pointed to the third national lockdown and the transition to the new trading relationship of the Trade and Cooperation Agreement (TCA) as having affected output and trade flows in early 2021.

Meanwhile gross domestic product (GDP) fell heavily by 9.8% overall in 2020. It is estimated to have increased by 1.3% in the fourth quarter, after plummeting 19.5%, in the second, then, in the third, growing by 16.9.

https://www.ons.gov.uk/releases/quarterlyeconomiccommentaryoctobertodecember2020

https://www.ons.gov.uk/releases/gdpquarterlynationalaccountsukoctobertodecember2020