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Ladybbird · 14-08-20, 12:24

UK Crashes into Recession With Record 20pc Quarterly Slump

'Hard Times are Here' Says Chancellor Rishi Sunak

UK GDP fell by 20.4pc in the second quarter
Economy shrank to 2003 levels at height of lockdown
Output picked up slightly in June
First technical recession since 2009

The Telegraph UK, 14 AUG 2020.

The UK has crashed into a its deepest-ever recession after Covid-19 prompted the worst quarterly fall in output since records began.

Britain’s economy contracted by 20.4pc during the second quarter – between April and June – leaving it as the world’s worst-hit major economy. Only Spain’s economy contracted more over the first half of 2020.

A Record Hit

Output continued to recover during June, rising 8.7pc, but wasn’t enough to counteract a plunge that, at its nadir, put GDP back at levels last seen in 2003.

The period encompassed the biggest chunk of the UK’s lockdown, with many restrictions remaining in place throughout.

14-08-20, 12:24	#1
Ladybbird Join Date: Feb 2011 Posts: 50,618 Thanks: 28,767 Thanked 14,428 Times in 10,234 Posts Awards Showcase Total Awards: 8	Britain Plunges Into RECORD Recession-World's Worst-Hit Major Economy UK Crashes into Recession With Record 20pc Quarterly Slump 'Hard Times are Here' Says Chancellor Rishi Sunak UK GDP fell by 20.4pc in the second quarter Economy shrank to 2003 levels at height of lockdown Output picked up slightly in June First technical recession since 2009 The Telegraph UK, 14 AUG 2020. The UK has crashed into a its deepest-ever recession after Covid-19 prompted the worst quarterly fall in output since records began. Britain’s economy contracted by 20.4pc during the second quarter – between April and June – leaving it as the world’s worst-hit major economy. Only Spain’s economy contracted more over the first half of 2020. A Record Hit Output continued to recover during June, rising 8.7pc, but wasn’t enough to counteract a plunge that, at its nadir, put GDP back at levels last seen in 2003. The period encompassed the biggest chunk of the UK’s lockdown, with many restrictions remaining in place throughout. __________________ *AMERICA WAS ONCE AN INNOVATED & RESPECTED COUNTRY and THEN ALONG CAME TRUMP.....* That buzz you hear is George Washington spinning in his grave