{"id":72551,"date":"2021-04-08T07:06:50","date_gmt":"2021-04-08T07:06:50","guid":{"rendered":"https:\/\/secondchargemortgageuk.com\/?p=72551"},"modified":"2021-04-08T07:06:51","modified_gmt":"2021-04-08T07:06:51","slug":"uk-economy-ended-2020-better-than-expected","status":"publish","type":"post","link":"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/","title":{"rendered":"UK economy ended 2020 better than previously expected"},"content":{"rendered":"\n<p>The pandemic-hit UK economy grew quicker than earlier expected in the final three months of 2020, but still shrank by the most in more than three centuries that year, according to official data, which revealed the biggest pile of household savings on record last year. The Bank of England thinks this will fuel a recovery when consumers are freed from lockdown.<\/p>\n\n\n\n<p>Gross domestic product (GDP) increased by 1.3 per cent between October and December from the previous three-month period, UK media reported citing the Office for National Statistics (ONS).<\/p>\n\n\n\n<p>In 2020, GDP fell by 9.8 per cent from 2019, only slightly less sharp than an initial estimate of a 9.9 per cent slump.<\/p>\n\n\n\n<p>The UK economy suffered the biggest drop of all countries in the Organisation for Economic Cooperation and Development (OECD) except for Argentina and Spain last year, OECD data has shown.<\/p>\n\n\n\n<p><em>To find out more about how we can assist you with your Second Charge Mortgage please <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/contact-us\/\" target=\"_blank\">click here<\/a><\/em><\/p>\n\n\n\n<p>It remained 7.3 per cent smaller than before the pandemic, in inflation-adjusted terms, the second biggest drop among eight major economies listed by the ONS.<\/p>\n\n\n\n<p>Although this partly reflects the way different countries produce the data, some of the weakness shown by Britain\u2019s economy, particularly in household spending, was real.<\/p>\n\n\n\n<p>After a rollercoaster 2020, when GDP careened 19.5 per cent lower in the second quarter, during the first lockdown, and grew by almost 17 per cent in the third, the Bank of England expects growth of 5 per cent in 2021 as a whole, helped by Europe\u2019s fastest vaccination programme.<\/p>\n\n\n\n<p>The savings ratio rose to 16.1 per cent from 14.3 per cent in the third quarter and for 2020 as a whole it hit a record high of 16.3 per cent, compared with 6.8 per cent in 2019, the ONS said.<\/p>\n\n\n\n<p>Source: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.fibre2fashion.com\/news\/textile-news\/uk-economy-ended-2020-better-than-previously-expected-273362-newsdetails.htm\" target=\"_blank\">Fibre2Fashion<\/a><\/p>\n\n\n\n<p><em>Discover our <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/\" target=\"_blank\">Second Charge Mortgage Broker<\/a> services.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The pandemic-hit UK economy grew quicker than earlier expected in the final three months of 2020, but still shrank by the most in more than three centuries that year, according to official data, which revealed the biggest pile of household savings on record last year. The Bank of England thinks this will fuel a recovery [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":72552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1978],"tags":[2089,2115,2075],"yst_prominent_words":[103,1268,538,748,189,1252,231,1194,485,111],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v14.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK economy ended 2020 better than previously expected<\/title>\n<meta name=\"description\" content=\"The pandemic-hit UK economy grew quicker than earlier expected in the final three months of 2020, but still shrank by the most in more than three centuries.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK economy ended 2020 better than previously expected\" \/>\n<meta property=\"og:description\" content=\"The pandemic-hit UK economy grew quicker than earlier expected in the final three months of 2020, but still shrank by the most in more than three centuries.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/\" \/>\n<meta property=\"og:site_name\" content=\"Second Charge Mortgage UK\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-08T07:06:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-08T07:06:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/secondchargemortgageuk.com\/wp-content\/uploads\/2021\/04\/cash-1342228_960_720.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"639\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/secondchargemortgageuk.com\/#organization\",\"name\":\"UK Mortgage Broker\",\"url\":\"https:\/\/secondchargemortgageuk.com\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/secondchargemortgageuk.com\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secondchargemortgageuk.com\/wp-content\/uploads\/2020\/01\/transparent.png\",\"width\":726,\"height\":334,\"caption\":\"UK Mortgage Broker\"},\"image\":{\"@id\":\"https:\/\/secondchargemortgageuk.com\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/secondchargemortgageuk.com\/#website\",\"url\":\"https:\/\/secondchargemortgageuk.com\/\",\"name\":\"Second Charge Mortgage UK\",\"description\":\"Mortgage Solutions for Clients with Adverse Credit\",\"publisher\":{\"@id\":\"https:\/\/secondchargemortgageuk.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/secondchargemortgageuk.com\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secondchargemortgageuk.com\/wp-content\/uploads\/2021\/04\/cash-1342228_960_720.jpg\",\"width\":960,\"height\":639,\"caption\":\"UK economy\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/#webpage\",\"url\":\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/\",\"name\":\"UK economy ended 2020 better than previously expected\",\"isPartOf\":{\"@id\":\"https:\/\/secondchargemortgageuk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/#primaryimage\"},\"datePublished\":\"2021-04-08T07:06:50+00:00\",\"dateModified\":\"2021-04-08T07:06:51+00:00\",\"description\":\"The pandemic-hit UK economy grew quicker than earlier expected in the final three months of 2020, but still shrank by the most in more than three centuries.\",\"breadcrumb\":{\"@id\":\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"item\":{\"@type\":\"WebPage\",\"@id\":\"https:\/\/secondchargemortgageuk.com\/\",\"url\":\"https:\/\/secondchargemortgageuk.com\/\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"position\":2,\"item\":{\"@type\":\"WebPage\",\"@id\":\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/\",\"url\":\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/\",\"name\":\"UK economy ended 2020 better than previously expected\"}}]},{\"@type\":\"Article\",\"@id\":\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/#webpage\"},\"author\":{\"@id\":\"https:\/\/secondchargemortgageuk.com\/#\/schema\/person\/2a6baa7be34813e3821576e78b74f615\"},\"headline\":\"UK economy ended 2020 better than previously expected\",\"datePublished\":\"2021-04-08T07:06:50+00:00\",\"dateModified\":\"2021-04-08T07:06:51+00:00\",\"commentCount\":0,\"mainEntityOfPage\":{\"@id\":\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/#webpage\"},\"publisher\":{\"@id\":\"https:\/\/secondchargemortgageuk.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/#primaryimage\"},\"keywords\":\"coronavirus lockdown,economic recovery,uk economy\",\"articleSection\":\"Second Charge Mortgage UK\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/secondchargemortgageuk.com\/uk-economy-ended-2020-better-than-expected\/#respond\"]}]},{\"@type\":[\"Person\"],\"@id\":\"https:\/\/secondchargemortgageuk.com\/#\/schema\/person\/2a6baa7be34813e3821576e78b74f615\",\"name\":\"Marketing\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/secondchargemortgageuk.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/58097a1900583ccc6a78711c63c1b8f7?s=96&d=mm&r=g\",\"caption\":\"Marketing\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","_links":{"self":[{"href":"https:\/\/secondchargemortgageuk.com\/wp-json\/wp\/v2\/posts\/72551"}],"collection":[{"href":"https:\/\/secondchargemortgageuk.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/secondchargemortgageuk.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/secondchargemortgageuk.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/secondchargemortgageuk.com\/wp-json\/wp\/v2\/comments?post=72551"}],"version-history":[{"count":1,"href":"https:\/\/secondchargemortgageuk.com\/wp-json\/wp\/v2\/posts\/72551\/revisions"}],"predecessor-version":[{"id":72553,"href":"https:\/\/secondchargemortgageuk.com\/wp-json\/wp\/v2\/posts\/72551\/revisions\/72553"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/secondchargemortgageuk.com\/wp-json\/wp\/v2\/media\/72552"}],"wp:attachment":[{"href":"https:\/\/secondchargemortgageuk.com\/wp-json\/wp\/v2\/media?parent=72551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/secondchargemortgageuk.com\/wp-json\/wp\/v2\/categories?post=72551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/secondchargemortgageuk.com\/wp-json\/wp\/v2\/tags?post=72551"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/secondchargemortgageuk.com\/wp-json\/wp\/v2\/yst_prominent_words?post=72551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}