Categories
News

UK economy faces long climb back to health after historic 20% crash – Reuters

Britain’s economy shrank by a record 20.4% in the second quarter when the coronavirus lockdown was tightest, the most severe contraction reported by any major economy so far, with a wave of job losses set to hit later in 2020.

The data confirmed that the world’s sixth-biggest economy had entered a recession, with the low point coming in April when output was more than 25% below its pre-pandemic level.

https://www.reuters.com/article/us-health-coronavirus-britain-economy/uk-economic-output-collapses-by-20-4-in-second-quarter-idUSKCN2580LK