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UK economy shrinks at record 5.8% pace in March

The UK economy shrank at the fastest monthly pace on record in March as the coronavirus lockdown triggered a crash in activity and demand. 

UK gross domestic product fell 5.8 per cent in March compared with the previous month, the largest drop since the monthly series began in 1997, according to first estimates by the Office for National Statistics.

In the first quarter, UK GDP fell 2 per cent compared with the previous quarter, its largest drop since the financial crisis.

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