New restrictions less damaging to UK economy than spring lockdown, data show

The latest Covid-19 restrictions across the UK are affecting the economy less severely than the nationwide lockdown in the spring, unofficial data suggest. A new lockdown in England, firebreak restrictions in Wales and travel curbs in Scotland and Northern Ireland resulted in sharp contractions across many measures of consumer services activity in early November. However, so-called high-frequency indicators of the broader economy, including volumes of people travelling to workplaces and heavy goods vehicle traffic, remained largely unchanged compared with before the restrictions were imposed, reflecting that most factories and building sites remained open.