The UK is in an official COVID-19 recession after GDP plunged 20.4% in Q2

 

Offices for National Statistics

• The United Kingdom has entered a recession for the first time in 11 years due to the coronavirus pandemic's impact on the economy.
• Figures from the Office for National Statistics show that from April to June, GDO plunged 20.4%
• The figures marked a second consecutive quarter of contraction, the technical definition of a recession.
• The economy began to rebound in June after lockdown restrictions were relaxed, but is still in deep trouble.
• The neighboring Eurozone is also in recession, which was announced in late July.
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