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UK officially in recession for first time in 11 years

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The UK economy suffered its biggest slump on record between April and June as coronavirus lockdown measures pushed the country officially into recession, the BBC reports.

The economy shrank 20.4% compared with the first three months of the year.

Household spending plunged as shops were ordered to close, while factory and construction output also fell.

This pushed the UK into its first technical recession – defined as two straight quarters of economic decline – since 2009.

The Office for National Statistics (ONS) said the economy bounced back in June as government restrictions on movement started to ease.

The UK’s slump is also one of the biggest among advanced economies, according to preliminary estimates.

The economy is more than a fifth smaller than it was at the end of last year. This fall is not as bad as the 22.7% decline in Spain but around twice the size of declines in Germany and the US.

Arm Radio


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