UK plunges into worst recession on record
Finance
- 12 August, 2020
- 10:55
The British economy shrank by 20.4% in the second quarter of the year due to the COVID-19 pandemic, Report says, citing the BBC.
The National Statistics Office informed that in the first three months of 2020, the country's GDP dropped 2.2% from the same period of 2019, signaling the biggest contraction since 1979, mostly due to a sharp decline in production.
The UK last faced with the recession in 2009.
According to the Health Ministry, the United Kingdom, one of the countries most affected by the coronavirus, accounts for more than 310,000 COVID-19 cases and 46,600 deaths.
Latest News
12:39
Serbia to host World Environment Day in 2027
Ecology12:37
Minister: Azerbaijan cooperates with neighbors to tackle Caspian Sea decline
Ecology12:36
Slovakian envoy congratulates Azerbaijan on victory at European Championship
Foreign policy12:25
President Ilham Aliyev addresses World Environment Day participants
Foreign policy12:21
Video
Babiš: Czech Republic intends to implement all gas agreements with Azerbaijan - EXCLUSIVE
Foreign policy12:19
Photo
Feature film "Taghiyev: Oil" screened in Turkmenistan
Cultural policy12:07
Rashad Ismayilov: Protecting environment is common global responsibility
Ecology12:02
Baku to host International Finance and Banking Summit
Finance11:57