United Kingdom Suffers Worst Annual Contraction Since Year 1709
Business Δ± By Rochdi Rais
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βThe tighter restrictions imposed towards the end of last year, which are likely to remain in place for much of the current quarter, suggest that the economy may shrink again,β said Dean Turner, economist at UBS Global Wealth Management.
βHowever, what is clear from the data is the resilience and adaptability of firms and households, so any contraction will be modest. As and when restrictions are eased, we continue to expect a vigorous rebound in the economy.β He added.
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