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British economy slumps into recession after record drop in quarterly output

Britain’s economy shrank by a record 20.4 per cent between April and June, when the coronavirus lockdown was tightest, the largest contraction reported by any major economy so far, according to official figures published on Wednesday.

The data also showed the world’s sixth-biggest economy entered a recession as it shrank for a second quarter in a row.

There were signs of a recovery in the month of June alone when gross domestic product grew by 8.7 per cent from May, the Office for National Statistics said.

That was just above economists’ average expectation in a Reuters poll for an 8 per cent rise. Growth in May was revised up too.

“The recession brought on by the coronavirus pandemic has led to the biggest fall in quarterly GDP on record,” Jonathan Athow of the Office for National Statistics said.

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