BRITISH ECONOMY PLUNGES INTO RECESSION AFTER RECORD SECOND-QUARTER FALL

The British economy is in recession after contracting a record 20.4 per cent in the second quarter as the coronavirus crisis took hold, the Office for National Statistics (ONS) said on Wednesday.

The quarterly contraction in the April-to-June period was the largest since 1955 when the agency began to keep quarterly records. Gross domestic product (GDP) fell 2.2 per cent in the first quarter, the ONS said.



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