Advertisement

UK GDP crashes by a massive 20.4% in April as economy is hit by coronavirus pandemic

UK GDP crashes by a massive 20.4% in April as economy is hit by coronavirus pandemic Subscribe to the Evening Standard on YouTube:

The UK has recorded its worst monthly GDP fall on record as coronavirus damaged the economy.

Official statistics from the ONS showed GDP growth fell by 20.4% in April, following a 5.8% fall in March. The monthly decline in GDP in April, when the country was in full lockdown, is three times greater than the fall experienced during the 2008 to 2009 economic downturn and was worse than economists had forecast.

The retail, travel and hospitality industries were all hit hard as was manufacturing and construction.

The figures show the huge task facing the UK economy as the government seeks to ease lockdown restrictions.

Read more:

london,evening standard,news,newspaper,standard,uk,Covid,Coronavirus,Covid-19,UK Economy,GDP,Finance,city,ONS,News/News & Highlights,covid-19,finance,business,business news,ftse,dow,stock,coronavirus uk,coronavirus in uk,coronavirus news,covid-19 news,covid-19 latest,pandemic,outbreak,health,virus,britain,politics,uk government,news uk,london news,banks,bank of england,

Post a Comment

0 Comments