UK economy shrinks by record 9.9% in 2020 pandemic

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  • Channel 4 News published this video item, entitled “UK economy shrinks by record 9.9% in 2020 pandemic” – below is their description.

    The biggest fall in national income for 311 years. That is the startling economic cost revealed today of a year of restrictions and lockdowns.

    But despite the gloom, some brave souls see grounds for optimism.

    The Bank of England’s chief economist believes the economy is a “coiled spring” ready to bounce back.

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    In This Story: Bank of England

    The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government’s banker, and still one of the bankers for the Government of the United Kingdom, it is the world’s eighth-oldest bank.

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