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The UK recession is the worst for any major economy



This GDP crash in April-June is the worst since quarterly census began in 1955 and followed a 2.2% contraction in the first quarter. Industries most exposed to government blockades to improve the coronavirus pandemic – services, manufacturing and construction – saw record declines.

“Today ‘s figures confirm that difficult times are here,” UK Finance Minister Rishi Sunak said in a statement. “Hundreds of thousands of people have already lost their jobs, and unfortunately in the coming months much more willpower. But while there are difficult choices to be made ahead, we will overcome that, and I can reassure people that no one will be left without hope or opportunity. “

Compared to the end of 201
9, UK economic output fell by a cumulative 22.1% in the first six months of 2020, a worse result than Germany, France and Italy, and doubling the 10.6% drop recorded in United States Office of National Statistics said. The UK economy has shed 730,000 jobs since the coronavirus pandemic closed businesses in March, with young people, the elderly and the self-employed bearing the brunt of the unemployment crisis.

This is an evolving story and will be updated.


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