UK plunges into worst recession on record

UK plunges into worst recession on record The British economy decreased by 20.4% in the second quarter due to the COVID-19 pandemic, Report says, citing BBC.
Finance
August 12, 2020 14:55
UK plunges into worst recession on record

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.

Orphus sistemi