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UK economic output collapses by 20.4% in Q2

LONDON, Aug 12 – Britain’s economy shrank by a record 20.4% between April and June, when the coronavirus lockdown was tightest, the largest contraction reported by any major economy so far, official figures showed on Wednesday.

The data 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% from May, the Office for National Statistics said.

That was just above economists’ average expectation in a Reuters poll for an 8% rise. (Reporting by David Milliken and William Schomberg; editing by Kate Holton)

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