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UK GDP plunged by a record 20.4% in the second quarter

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An advertising board displaying official coronavirus test-and-trace advice from the U.K. government.

Mike Kemp | In PIctures via Getty Images

The U.K. economy contracted by 20.4% in the second quarter of 2020, compared to the previous three months, as coronavirus-induced lockdowns hammered activity, according to preliminary figures released Wednesday.

GDP (gross domestic product) expanded by 8.7% in June as government lockdown measures eased, having shown a meek 1.8% recovery in May following April’s 20.4% contraction.

The second-quarter plunge is the worst on record and follows a 2.2% contraction in the first quarter. Analysts had expected a fall of 20.5%, according to a Reuters poll. Two…

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Source cnbc.com

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