An analysis by the Office for National Statistics showed that Britain’s economy is the most affected by the Corona pandemic among the G7 countries, even taking into account large differences in the way government spending is measured.
Official figures showed that Britain suffered the largest drop in economic output among the G7 countries between the first and third quarters of 2020.
The Office for National Statistics said some of the slump in Britain could be explained by the way the output of government services such as education and healthcare was measured, and international comparisons were difficult to make.
He added, “But one useful method is to remove estimates of government consumption spending … This shows that the United Kingdom is still suffering from the largest contraction, but the relative comparison with the rest of the G7 countries is not very large.”
The office said that Britain also suffered from the largest decline in household spending among the G7 countries, noting that the general isolation measures in the country were more stringent and imposed for a longer period.
He noted that the overall economic impact of lockdowns and social distancing may be greater in Britain because social spending, such as eating out and spending vacations, has a more dominant role than in other countries.
Britain has one of the highest rates of Covid-19 deaths in the world, another factor seen as affecting the economy.