{"componentChunkName":"component---src-templates-post-js","path":"/double-dip-recession/","result":{"data":{"ghostPost":{"id":"Ghost__Post__5ff57967d84e16003918d16d","title":"Double-dip recession?","slug":"double-dip-recession","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/01/Multiply-minute-1.png","excerpt":"Starting 2021 with another lockdown has put the UK on course for a double-dip recession. ","custom_excerpt":"Starting 2021 with another lockdown has put the UK on course for a double-dip recession. ","created_at_pretty":"06 January, 2021","published_at_pretty":"06 January, 2021","updated_at_pretty":"06 January, 2021","created_at":"2021-01-06T08:48:39.000+00:00","published_at":"2021-01-06T08:50:09.000+00:00","updated_at":"2021-01-06T08:50:09.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get the money news you need.\n\nEconomic downturn\nStarting 2021 with another lockdown has put the UK on course for a double-dip\nrecession\n[https://www.cityam.com/uk-on-course-for-double-dip-recession-amid-lockdown-gloom/]\n. After the first dip in spring last year, the economy recovered itself - but\nstill ended the year far below pre-pandemic levels. Nearly half of companies saw\ntheir sales drop in the last three months of 2020, according to the British\nChambers of Commerce (BCC).\n\nNo test, no entry?\nPeople arriving in the UK could soon need to prove they don’t have coronavirus\n[https://www.bbc.co.uk/news/business-55551310] in order to come into the\ncountry. Arrivals currently have to self-isolate for 10 days when they arrive in\nthe UK, although they can pay to have a private test to get out of isolation\nearly.\n\nCar sales stall\nLast year saw the biggest slump in car sales\n[https://www.theguardian.com/business/2021/jan/06/uk-car-sales-fall-to-lowest-level-since-1992] \nsince the second world war. 1.63 million vehicles were sold - the lowest since\n1992. Electric cars were flying off the forecourts, with sales up almost 200% in\n2020. But it wasn’t enough to make up for the decline in petrol and diesel cars.\n\nBosses make bank\nToday, chief execs of the UK’s biggest companies have already earned\n[https://www.bbc.co.uk/news/business-55551314] as much as the average worker\nmakes in a year - after just 3 days. By 5.30pm today, FTSE 100 bosses’ earnings\nwill have passed £31,461, the average annual wage, according to think-tank the\nHigh Pay Centre.","html":"

The 1-minute read to get the money news you need.

Economic downturn

Starting 2021 with another lockdown has put the UK on course for a double-dip recession. After the first dip in spring last year, the economy recovered itself - but still ended the year far below pre-pandemic levels. Nearly half of companies saw their sales drop in the last three months of 2020, according to the British Chambers of Commerce (BCC).

No test, no entry?

People arriving in the UK could soon need to prove they don’t have coronavirus in order to come into the country. Arrivals currently have to self-isolate for 10 days when they arrive in the UK, although they can pay to have a private test to get out of isolation early.

Car sales stall

Last year saw the biggest slump in car sales since the second world war. 1.63 million vehicles were sold - the lowest since 1992. Electric cars were flying off the forecourts, with sales up almost 200% in 2020. But it wasn’t enough to make up for the decline in petrol and diesel cars.

Bosses make bank

Today, chief execs of the UK’s biggest companies have already earned as much as the average worker makes in a year - after just 3 days. By 5.30pm today, FTSE 100 bosses’ earnings will have passed £31,461, the average annual wage, according to think-tank the High Pay Centre.

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