A bulletin board showing official advice and coronavirus testing from the UK government.
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The British economy contracted by 20.4% in the second quarter of 2020, compared to the previous three months, as blockages caused by the coronavirus slowed activity, according to preliminary data released on Wednesday.
GDP (gross domestic product) expanded by 8.7% in June as government blockade measures were eased, and recorded a meager recovery of 1.8% in May after the contraction of 20.4% in April.
Lead in the second quarter is the worst on record and follows a contraction of 2.2% in the first quarter. According to a Reuters poll, analysts had forecast a 20.5% drop. Two consecutive periods of contraction mean that the British economy is in a phase of technical rescission
According to the services of the National Statistics Office (ONS), services, construction and production recorded a record quarterly decline, especially in sectors most exposed to government restrictions.
“The economy began to rebound in June with the reopening of stores, factories that began to increase production and housing construction continue to recover,” said Jonathan Athow, the national deputy for economic statistics. of the ONS.
“Despite this, GDP in June remains one-sixth below its level in February, before the virus occurred.”
In terms of level, real GDP was the lowest in the second quarter of 2003, while compared to the second quarter of 2019, the UK economy declined by 21.7%.
The ONS noted that its estimates are subject to greater uncertainty than usual, due to difficulties in coping with data collection due to public health restrictions.