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The British economy collapsed on record in the second quarter



A woman in a face mask greets customers at a souvenir shop at Southbank landmark – London’s cultural hub as the city encourages domestic tourism following the global shutdown of Coronavirus – drastically shrinking international tourism in London, England, August 10 2020.

Dominika Zarzycka / Zuma Press

The British economy crashed in the second quarter with the biggest record in the worst performance of any major economy during the pandemic.

UK gross domestic product falls quarter-on-quarter to 20.4% in the second quarter worse than France and Spain. It was doubling the roughly 10% discounts of the US and Germany during this period.

The 20.4% decline was slightly better than economists forecast the 21.2% decline.

“The economy started to jump back in June with the reopening of shops, factories started to increase production and housing construction continuing to recover. Despite this, GDP in June still remains sixth below its level in February, before it hit virus, “said ONS National Statistics Deputy for Economic Statistics Jonathan Athow.

Even after the UK opened up, it still has more constraints than other advanced economies. The Goldman Sachs effective blocking index for the UK is twice as high as that of France and also above the US, Germany, Italy and Spain. People in Manchester, east Lancashire and parts of West Yorkshire are forbidden to meet different families inside.


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