Market comment

UK GDP contracted by 9.9% in 2020

DAVY VIEW

UK GDP data released this morning show a 1% gain in Q4. The temporary re-opening last month and manufacturing orders brought forward ahead of the Brexit deadline helped a strong 1.2% rebound in December. Nonetheless, UK GDP suffered a 9.9% contraction in calendar year 2020, second only to Spain among the major European economies. The third lockdown and Brexit disruption should lead to a fresh contraction early in 2021, although vaccine rollout will help recovery later this year.

Download full report with analyst certification and important disclosures

Feb 12 2021, 08:10 GMT

Download