The UK’s coronavirus-ravaged economy shrank 9.9pc in 2020, the biggest annual fall in output since modern records began, but it avoided heading back towards recession at the end of last year, official figures showed on Friday. The fall is also steeper than almost any other big economy, though Spain - also hard-hit by the virus - suffered an 11pc decline. the UK has reported Europe's highest death toll from Covid-19 and is among the world's highest in terms of deaths per head. Some of the damage also reflects how the UK’s economy relied more on face-to-face consumer services than other countries, as well as disruption to schooling and routine healthcare which few other countries factored in to GDP. However, the UK has vaccinated many more people than other European countries so far, raising the prospect of a bounce-back for its economy later this year.

Source: Irish Independent February 12, 2021 08:15 UTC