Guernsey's economy performs much better than expected despite Covid restrictions

Guernsey's economy shrank by just 3% during 2020, much less than originally expected when measures to limit the spread of Covid were first brought in.

It is also much better than Jersey whose economy contracted by more than 9% in the same period.

According to new figures, the sectors which were hit hardest by travel restrictions such as hospitality and transport saw the biggest financial impact.

Guernsey's largest sector, financial services, saw just a 2% contraction and there was growth reported in Information and Communication and Real Estate.