Why the GDP hit from UK lockdown 2.0 was smaller than expected
More of the economy stayed open, Brexit talks boosted stockpiling and firms are developing some immunity to lockdowns
When the UK first went into lockdown last spring the impact on the economy was swift and profound. National output dropped by almost a fifth in April.
There was an echo of that decline in activity in the November figures for gross domestic product released by the Office for National Statistics but a relatively faint one. The 2.6% monthly contraction was bad - especially for consumer-facing businesses - but not nearly as bad as it might have been. Britain's economy was 8.9% smaller in November than in the same month of 2019, but analysts were braced for an annual decline of more than 12%.
Related: UK economy shrank 2.6% during November lockdown - business live
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