Last year the United Kingdom saw more of a downturn in the economy because of COVID-19 than any other G7 nation, which includes Japan, United States, Germany, Italy, France, and Canada.
In the UK more than 750k jobs were lost last year, and thousands of businesses closed their doors for good.
According to recently released data, it seems the UK had the worst downturn out of any G7 country last year. In recently released Q4 data it showed that they saw the economy shrink by 9.9 percent last year.
It is reportedly the sharpest contraction that they have seen in hundreds of years for the region.
The lockdowns that they had put into place recently are expected to slow the recovery and the Bank of England has cut its expectations to 5 percent for 2021.
When that recovery does start to pick-up though they do expect it to be quick to gain momentum, but who knows how long that could take.
The retail sales that they saw last year were the worst that they had seen in decades and the 2nd lockdown they brought into effect in the end of the year didn't help matters.
Pics:
pixabay
Wow. That high death per capita is fail! I have often read about the poor state of the health care system there, but my how far they have fallen!
They might as well have just let it burn :-( Would have been over more quickly and probably had roughly the same absolute numbers of deaths.
I know that sounds harsh, but man, if you're getting beat out by third world countries in spite of harsh lockdowns..... maybe your approach sucks!
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not an approach to mirror that's for sure
In the U.S. we lost 750,000 a weak and it's like (meh), not so bad. Nothing to see here, buy more stocks.
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The deaths are fake but the economic destruction is real, and it continues until people wake up to the covid scam...