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Offices for National Statistics
- The United Kingdom has entered a recession for the first time in 11 years due to the coronavirus pandemic’s impact on the economy.
- Figures from the Office for National Statistics show that from April to June, GDP plunged 20.4%
- The figures marked a second consecutive quarter of contraction, the technical definition of a recession.
- The economy began to rebound in June after lockdown restrictions were relaxed, but is still in deep trouble.
- The neighboring Eurozone is also in recession, which was announced in late July.
- Visit Business Insider’s homepage for more stories.
The UK is in an official recession, the country’s statistics authority confirmed on Wednesday.
GDP fell by 20.4% in the second quarter of 2020, the biggest fall on record, according to figures from the Office for National Statistics.
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The fall marks the second consecutive quarter of retraction, a widely-used definition of a recession.
The
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