UK GDP collapsed nearly 20% in second quarter in historic Covid hit

Britain suffered a record collapse in economic output in the second quarter of 2020 when Covid-19 lockdown measures were in force and people had few opportunities to spend, though the decline was slightly smaller than first estimated.

 

Gross domestic product shrank by 19.8 per cent in the three months to June compared with the first quarter, slightly less than the initial 20.4 per cent estimate but still more than any other major advanced economy, the Office for National Statistics said.