UK economy will 'get worse before it gets better'

News Team, 15/01/2021

The UK economy is “going to get worse before it gets better”, wealth managers have warned.

The economy shrank by 2.6 percent in November, as England faced its second lockdown.

The Office for National Statistics (ONS) said this means GDP is now 8.5 percent below its pre-pandemic peak.

Given the UK is now facing its third lockdown, many are fearing the situation will worsen again before any improvements are seen.

Robert Alster, chief investment officer at Close Brothers Asset Management, said a "double dip recession" is on the cards.

"Virus cases continue to climb, leaving policy-makers g...

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