BUSINESS LIVE: GDP shrank 2.6% in November; London lags on jobs


BUSINESS CLOSE: Economy shrinks 2.6% in November; Crash in hospitality; Meggitt is careful

The FTSE 100 closed 66.25 points at 6735.71 and the pound was trading at $ 1.36 against the dollar.

US President Joe Biden’s $ 1.9 trillion stimulus plan, which includes a cash payment of $ 1,400 for Americans, was indifferent to the markets in Asia and has not seen the FTSE 100 losses today held up.

Britain’s GDP shrank 2.6 percent in November as the second Covid-19 lockdown in England weighed on the economy, figures from the Office of National Statistics showed.

GDP fell 2.6 percent in November as the second coronavirus lockdown weighed on the economy, official figures showed today. In this graph, 100 represents the size of the economy in 2018

According to a new report, London is lagging behind the rest of the country in terms of job vacancies as businesses in the capital struggle to deal with social distancing measures, working from home and closing non-essential stores.

Pubs, restaurants and bar sales fell nearly three-quarters in December as escalating restrictions turned into a “terrible” Christmas for hotel companies, according to new statistics from the Coffer Peach Business Tracker.

Engineering firm Meggitt said the recent coronavirus vaccine rollout and pent-up demand could help a civil aviation rebound this year, but was cautious about the logistical challenges of a global roll-out.

> If you’re using our app, click here to read Business Live