UK hopeful of avoiding double-dip recession

Figures suggest British consumers and companies adapted better to the second round of coronavirus curbs than they did in the first half of 2020.

UK chancellor Rishi Sunak said he is "hopeful" Britain can avoid a further recessionary slump.

The UK economy shrank less than expected during the lockdown in November, making it possible the nation will avoid a double-dip recession.

The 2.6% contraction was two percentage points less severe than analysts had forecast. It means the UK economy will show growth for the fourth quarter unless December, when restrictions eased, records a decline of 1%.