Picture used for illustrative purpose. File
Gulf Today Report
Britain’s economy contract by 2.9 per cent in January following lockdown in various parts of the country.
According to the Office for National Statistics, the gross domestic product fell after recording 1.2 per cent growth in December
"Government restrictions reduced economic activity," the ONS said.
The economy was also 9.0 per cent smaller than its pre-pandemic level in February 2020.
Reduction of activities in education and consumer-facing industries dragged down the contraction in the services sector by 3.5 per cent.
The coronavirus crisis sparked a 10-per cent collapse in the economy last year -- its worst performance in more than three centuries.
So far the UK has vaccinated 23 million people with at least the first dose of the vaccine.
Britain officially entered recession in the second quarter after gross domestic product (GDP) contracted by 2.2 per cent in the first three months of the year. The technical definition of a recession is two quarterly contractions in a row.
British retailers struggled to recover in December from a partial coronavirus lockdown the previous month, marking a weak end to their worst year on record, while public debt has climbed to its highest since 1962, official data showed on Friday.
Infections have been reported in 210 countries since the first cases were identified in China in December last year and British aid minister Anne-Marie Trevelyan said assisting the poorest nations now would help prevent the virus returning to the United Kingdom.
Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group, on Tuesday
The Sharjah Chamber of Commerce and Industry (SCCI) on Tuesday received a high-level business delegation from Sri Lanka, led by Nalinda Wijerathna, Consulate General of Sri Lanka in Dubai.
Abu Dhabi National Oil Company (Adnoc) has signed contracts worth over Dhs1 billion with four Abu Dhabi companies to provide food catering services to all Adnoc Group companies from 2022 to 2027.