The U.K. economy contracted by 20.4 percent in the second quarter of 2020, compared to prior three months, as coronavirus lockdowns hammered activity, according to preliminary figures.
GDP (gross domestic product) expanded by 8.7 percent in June as government lockdown measures eased, having shown a meek 1.8 percent recovery in May following April’s 20.4 percentcontraction.
The second-quarter plunge is the worst on record and follows a 2.2 percent contraction in the first quarter. Analysts had expected a fall of 20.5percent, according to a Reuters poll.
Two consecutive periods of contraction mean the British economy is now in a technical recession.