{"id":110949,"date":"2021-03-31T06:30:31","date_gmt":"2021-03-31T06:30:31","guid":{"rendered":"https:\/\/fin2me.com\/?p=110949"},"modified":"2021-03-31T06:30:31","modified_gmt":"2021-03-31T06:30:31","slug":"uk-economy-grew-by-stronger-than-expected-1-3-in-fourth-quarter","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/uk-economy-grew-by-stronger-than-expected-1-3-in-fourth-quarter\/","title":{"rendered":"UK economy grew by stronger-than-expected 1.3% in fourth-quarter"},"content":{"rendered":"<figcaption>FILE PHOTO: Commuters walk across the London Bridge during the morning rush hour, amid an outbreak of the coronavirus disease (COVID-19), in London, Britain September 17, 2020. REUTERS\/Hannah McKay<\/figcaption><p>LONDON (Reuters) &#8211; Britain\u2019s coronavirus-hammered economy grew more quickly than previously thought in the final three months of 2020, official data showed on Wednesday.<\/p>\n<p>Gross domestic product increased by 1.3% between October and December last year from the previous three-month period, compared with an earlier estimate of 1.0% growth, the Office for National Statistics said.<\/p>\n<p>Economists polled by Reuters had expected the growth rate to remain at 1.0%.<\/p>\n<p>In 2020 as a whole, gross domestic product fell by 9.8%, slightly less sharp than an initial estimate of a 9.9% slump which was the biggest collapse in more than three centuries.<\/p>\n<p>Britain\u2019s economy suffered the biggest drop of all countries in the Organisation for Economic Co-operation and Development except for Argentina and Spain last year, OECD data has shown.<\/p>\n<p>The ONS also said Britain\u2019s current account deficit widened to 26.3 billion pounds in the fourth quarter, almost double the shortfall in the third quarter, as firms rushed to import goods before the Jan. 1 start to the country\u2019s less open trade relationship with the European Union.<\/p>\n<p>But the deficit &#8211; a long-standing concern for investors because it leaves Britain reliant on foreign inflows of cash &#8211; came in below forecasts of 33 billion pounds in the Reuters poll.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-britain-economy\/uk-economy-grew-by-stronger-than-expected-1-3-in-fourth-quarter-idUSKBN2BN0MM\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: Commuters walk across the London Bridge during the morning rush hour, amid an outbreak of the coronavirus disease (COVID-19), in London, Britain September [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":110948,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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