U.K. stocks fell notably on Friday after official data showed the U.K. economy logged its biggest annual fall on record in 2020, with GDP falling 9.9 percent.
The benchmark FTSE 100 dropped 33 points, or half a percent, to 6,495 after closing 0.1 percent higher the previous day.
The U.K. economy logged a weaker growth in the fourth quarter after the partial recovery seen in the third quarter, he Office for National Statistics said.
GDP grew by 1.0 percent in the fourth quarter, following a revised 16.1 percent growth in the third quarter. Economists had forecast a quarterly growth of 0.5 percent.
Despite two consecutive quarters of growth, the level of GDP in the UK was still 6.6 percent below where it was in the fourth quarter, prior to the pandemic.
FTSE 100 Falls On Weak GDP Data
2021-02-12 08:57:02
