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Home / World / The UK’s recession is the worst of any major economy

The UK’s recession is the worst of any major economy



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. “

Compared to the end of 201
9, UK economic output decreased by 22.1% cumulative in the first six months of 2020, a worse result than Germany, France and Italy, and doubled the decrease of 10.6 % were recorded in the United States, National Office. Statistics said. The UK economy has dropped 730,000 jobs since the coronavirus epidemic shut down businesses in March, with young people, the elderly and freelancers burdened by the unemployment crisis.

This is a developing story and will be updated.


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