新型冠状病毒

UK economy suffers worst slump in Europe in second quarter

Historic recession as quarterly output collapses 20% despite sharp recovery in June

The UK economy suffered a bigger slump than any other major European economy in the second quarter, shrinking by a fifth and falling into its deepest recession on record.

Official data released on Wednesday showed that gross domestic product fell 20.4 per cent quarter on quarter, with widespread contractions across all sectors.

The figures confirm that the pandemic has hit the UK harder than other developed economies. After the second-quarter contraction, the decline in UK GDP since the end of 2019 is double that in the US and second only to Spain among European peers. 

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