NEW: GDP Fell 2.6% in November Lockdown

The UK economy shrank 2.6% in the November lockdown, the country’s first GDP fall in six months. The relatively small drop compared to the economic downturn of the first lockdown has been described as “reassuringly small” by the Chief UK economist at Pantheon Macroeconomics – a firm which predicted a drop of 3.5% though smaller than the “consensus” of -4.6% expected. The overall drop in consumption was somewhat mitigated by growth in manufacturing and construction. The economy remains 8.5% down on its pre-pandemic February high…

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