Britain's economy shrinks by one-fifth in second quarter, more than any of its European neighbours, plunging the country into its deepest recession since 2009
A woman wearing a face visor due to the Covid-19 pandemic, walks with shoppers past a shop in London. August 12, 2020.
A recession is defined as two consecutive quarterly contractions and the British economy already shrank by 2.2 percent in the first three months of this year.It is Britain's first recession since 2009 and the performance is the worst of the so-called Group of Seven richest countries in the world over the same period.
The statisticians attributed Britain's dire second quarter to a 20-percent drop in output in April – "the biggest monthly fall on record reflecting widespread... declines in output across the services, production, and construction industries".Finance Minister Rishi Sunak said the data "confirm that hard times are here".
While officially in recession, the UK economy is beginning to rebound as the government eases strict confinement measures. "The economy began to bounce back in June, with shops reopening, factories beginning to ramp up production and house-building continuing to recover," noted Jonathan Athow, deputy national statistician at the ONS.
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