Britain's GDP fell by 5.8% in March, with 1Q GDP down by more than 2%, according to government figures published this morning by the Office for National Statistics (ONS). The covid-19 lockdown came into effect late in March. Last week the Bank of England forecast a 25% decline YoY for 2Q2020, and expects a huge 14% decline overall through the course of this year. The BoE's outlook would mean the UK is set to experience its worst recession since 1706. March saw the biggest monthly declin...
