UK economy suffers record 9.9 pct slump in 2020

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Britain’s coronavirus-ravaged economy shrank 9.9 percent in 2020, the biggest annual fall in output since modern records began, but avoided heading back towards recession in the final quarter of the year, official figures showed on Friday.

Britain’s gross domestic product (GDP) grew 1 percent between October and December, the Office for National Statistics said, at the top end of the range of forecasts by economists in a Reuters poll.

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