Britain's economy shrank in November as it went into a new lockdown, but the decline was smaller than expected as businesses adjusted to social distancing and schools remained open, making a double-dip recession less likely.
"Overall, the growing immunity to lockdowns suggests that the economy is not quite as sick as we thought," said Paul Dales, chief UK economist at Capital Economics. But Britain's rollout of vaccines – which has been faster than elsewhere in Europe – was a reason to be hopeful, he added. But others thought a contraction might be avoided in the 4th quarter because November's restrictions were lifted in December.too soon to say if further stimulus would be neededFriday's data showed Britain's economy in November was 8.9% smaller than a year earlier, compared with 6.8% smaller in October. In April, when many businesses closed temporarily, output was a record 25% below its year-ago level.
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