The U.K. economy is in a technical recession after the second quarter of 2020 (April to June) saw a record Gross Domestic Product (GDP) fall of 20.4%, following a “significant shock since the…
This follows a fall of 2.2% during the first quarter of 2020.show that the second quarter of 2020 is now 22.1% below the fourth quarter of 2019, which is more than three times greater than the total fall during the next largest recession period, which occurred during the global economic downturn of 2008 to 2009.
While the precise effects of the recession on the media and entertainment industry are yet to be analyzed, it could have a significant knock-on impact on the sector. Recent months have shown how vulnerable cinemas, theaters and productions are to public health restrictions and the effects of social distancing.
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