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Photo by Gintautas Deguio (V)
The UK (UK) economy experienced its largest fixed decline between April and June, as the country battled the coronavirus pandemic. After the publication of the data for the second quarter, the official economy of the country is in recession.
According to the BBC, the UK economy contracted 20.4% in the second quarter compared to the previous quarter.
After this crossover, the country officially announces a recession, the economy falls for two quarters in a row. The last time this situation was recorded in the United Kingdom was in 2009.
According to the Financial Times, the drop in GDP reveals that the pandemic has hit the UK more than other developed economies.
True, it is noted that in July, when the restrictions imposed by the pandemic began to freak out, the economy faltered.
The economic recovery began in July, with industrial production growing 8.7% faster than economists had predicted, but by as much as the forecasts of the latest Bank of England surveys, France Télécom comments.
The UK’s GDP has already grown 11.3% since April, although it is still 17.2% lower than in the summer due to the coronavir pandemic.
It has already been reported that the pandemic has hit other economies hard: Italy’s GDP contracted 12.4% in the second quarter, Spain’s 18.5%, France’s 13.8% in the second quarter and that of Germany 10.1%.
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