Covid-19 plunges UK economy into deepest ever recession

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Covid-19 plunges UK economy into deepest ever recession

The UK economy suffered a record collapse in 2Q2020, with GDP plunging 19.8% between April and June, according to the Office for National Statistics (ONS). The figures confirm that the UK has now entered the biggest recession on record after GDP fell for two consecutive quarters. The fall is slightly less than the initial estimate of a 20.4% but still more than any other country in the EU. Overall GDP is now 21.8% smaller than at the end of 2019, highlighting the impact of coronaviru...

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