A woman in a protective face mask is waiting for clients at a souvenir shop in landmark Southbank – a cultural center of London, as the city encourages internal tourism after drastic shrinkage of Coronavirus international tourism shrank in London, England, 10 August 2020.
Dominika Zarzycka / Zuma Press
The UK economy crashed in the second quarter by the most on record in the worst showing of major economy during the pandemic.
Britain’s gross domestic product fell quarter-on-quarter by 20.4% in the second quarter less than even severely hit France and Spain. It was double the roughly 10% decline of the US and Germany during the period.
The decline of 20.4% was slightly better than the 21.2% decline predicted by economists.
‘The economy started to hit back in June with stores reopening, factories starting to increase production and continued to restore house construction. Despite this, GDP in June still remained a sixth below its level in February, before the virus struck, “said ONS Deputy National Statistics for Economic Statistics Jonathan Athow.
Even if the UK is open, it has even more restrictions than other advanced economies. The Goldman Sachs effective lockdown index for the United Kingdom is twice as high as France and also above the US, Germany, Italy and Spain. People in Manchester, east Lancashire and parts of West Yorkshire are forbidden to meet different households inside.
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