The British economy is entering a recession after a record contraction of more than 20 percent Economy
The British economy entered recession in the second quarter with GDP contracting for the second consecutive quarter. From April to June, GDP contracted by 20.4 percent, according to figures published on Wednesday by Britain's Office for National Statistics.
This is a record contraction in a quarter in which the country was largely in lockdown due to the coronavirus outbreak.
In June, when measures were eased, signs of recovery appeared again. That month, the British economy grew by 8.7 percent compared to May.
Jonathan Athow from the UK Office for National Statistics said: “The recession caused by the coronavirus crisis is the largest quarterly decline in GDP ever recorded.”
Although there were signs of recovery in June, GDP was still one-sixth below February levels (before the Covid-19 pandemic).
British Finance Minister Rishi Sunak said in response that the numbers confirm that the United Kingdom is going through difficult economic times. “Hundreds of thousands of people have already lost their jobs, and it is unfortunate that this will happen to many more in the coming months.”
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Britse economie krimpt in recordtempo door coronavirus
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