Latest GDP Data ... Better than expected ...
The latest monthly GDP estimate was released this week. Activity fell by 9% in November compared to prior year. Construction activity was down by 1.4%. Manufacturing down 4%. The service sector fell by 20%. The arts and entertainment sector was down by almost 40%. Accommodation and food were down by 65%.
For the year as a whole, we expect output in the economy to have fallen by around 10% in 2020. In the current year, despite the lock down in the first quarter, growth of 4.5% seems possible for the year as a whole
Check out the latest update here ...
Sign up for the Saturday Economist ... FREE updates on the UK and World Economy Every Week delivered to your in box every Saturday Morning ... well about 1:00 pm actually! JKA Don't Miss Out