The collapse in GDP between April and June was the worst since quarterly records started in 1955 and after falling 2.2% in the first quarter. The industries most exposed to government lockdowns to prevent the coronavirus pandemic – services, manufacturing, and construction – fell on record.
“Today’s figures confirm that tough times are here,” UK Finance Minister Rishi Sunak said in a statement. “Hundreds of thousands of people have lost their jobs and, sadly, more will come in the coming months. But while there are tough choices ahead, we will get through this and I can assure you,” people that no one will be left without hope or chance. “
This is a developing story and will be updated.