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The UK economy s coronavirus crisis in five charts | Politics

Last modified on Tue 2 Mar 2021 17.47 EST The UK economy is at a pivotal moment, as the chancellor gives his budget speech with businesses and workers under the most pressure since the pandemic struck a year ago. Here are five key charts that will underpin Rishi Sunak’s statement on Wednesday afternoon. The UK economy After gross domestic product (GDP) shrank by 9.9% in 2020 – the worst performance since 1709 – the economy remains under pressure at the start of 2021 as the toughest lockdown since the start of the pandemic bites. However, official forecasts due on Wednesday from the Office for Budget Responsibility could paint a rosier picture, as progress administering the vaccine paves the way for a swift recovery later this year.

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