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Breaking News

BREAKING: UK Economy Slumps 2.9% In January On Coronavirus Curbs

Oluwaseye Ogunsanya March 12, 2021 24

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Official data shows that Britain’s economy shrank by 2.9% in January after the country re-entered coronavirus lockdown. According to the Office for National Statistics, GDP hit reverse after 1.2% growth in December.

The economy was also 9% percent smaller than its pre-pandemic level. Exports of British goods to the European Union collapsed by almost 41% in January after Brexit, official data shows.

The value of UK goods exported to the EU fell £5.6 billion ($7.8 billion, 6.5 billion euros) from December, the Office for National Statistics says.

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