The UK economy shrank 9.9% in 2020 - the biggest slump on record.
However, there was GDP growth in the final quarter of the year, which means the UK may avoid a double-dip recession.
The Bank of England is predicting a fast rebound for the economy in 2021 as covid restrictions are eased and a vaccination programme is rolled out.
Chancellor Rishi Sunak says it's been a difficult time for many.
IN: "Whilst...
OUT: ...March."
DUR: 20 Seconds