UK plunges into worst recession on record
Finance
- 12 August, 2020
- 10:55
The British economy shrank by 20.4% in the second quarter of the year due to the COVID-19 pandemic, Report says, citing the BBC.
The National Statistics Office informed that in the first three months of 2020, the country's GDP dropped 2.2% from the same period of 2019, signaling the biggest contraction since 1979, mostly due to a sharp decline in production.
The UK last faced with the recession in 2009.
According to the Health Ministry, the United Kingdom, one of the countries most affected by the coronavirus, accounts for more than 310,000 COVID-19 cases and 46,600 deaths.
Latest News
20:44
Pezeshkian: Strait of Hormuz open to vessels of all countries
Region20:41
Araghchi: Regional war will permanently close door to diplomacy
Region20:33
WHO prepares for possible nuclear risks in Middle East conflict
Health20:21
Jeffries: US needs change in leadership
Other countries20:11
Trump calls Democratic Party top US enemy after Iran
Other countries19:58
Rutte: Some alliance members developing measures to secure shipping in Strait of Hormuz
Other countries19:53
Bessent: US has sufficient funds for war against Iran
Other countries19:39
Ilia II buried; Azerbaijani officials attend funeral - UPDATED
Foreign policy19:31