UK GDP fell by almost three per cent in January, reversing a mini-bounce back recorded in December, as the latest national coronavirus lockdown hit the economy hard. January's overall GDP figure is nine per cent below the level recorded in February last year, before the pandemic took hold. It is also still four per cent below the level recorded in October - the initial peak of the recovery after rules were eased over the summer. Overall, the services sector was more than 10 per cent below the level recorded in February last year and 4.9 per cent below the level recorded in October. The construction sector did record positive growth of 0.9 per cent in January after suffering a decline of 2.9 per cent in December.

Source: The Nation March 12, 2021 07:52 UTC