UK to plunge into deepest slump on record with worst fall in GDP among G7 | The Guardian

Official measure to be declared this week as coronavirus lockdown shrinks GDP by 21% in second quarterBritain’s economy will be officially declared in recession this week for the first time since the 2008 financial crisis, as the coronavirus outbreak plunges the country into the deepest slump on record.Figures from the Office for National Statistics on Wednesday are expected to show gross domestic product (GDP), the broadest measure of economic prosperity, fell in the three months to June by 21%. Continue reading…

Official measure to be declared this week as coronavirus lockdown shrinks GDP by 21% in second quarter

Britain’s economy will be officially declared in recession this week for the first time since the 2008 financial crisis, as the coronavirus outbreak plunges the country into the deepest slump on record.

Figures from the Office for National Statistics on Wednesday are expected to show gross domestic product (GDP), the broadest measure of economic prosperity, fell in the three months to June by 21%.

Continue reading…