UK GDP collapsed nearly 20% in second quarter in historic Covid hit

Topics UK economy | Coronavirus | Lockdown

Britain suffered a record collapse in economic output in the second quarter of 2020 when Covid-19 lockdown measures were in full force, though the decline was slightly smaller than first estimated. Gross domestic product shrank by 19.8% in the three months to June, the Office for National Statistics said, slightly less than the initial estimate of a quarterly 20.

4% crash but still more than for any other major advanced economy. The fall was the biggest since the ONS records began in 1955. Other data has suggested Britain is on course.

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