01:23 GMT20 October 2020
Listen Live
    UK
    Get short URL
    150
    Subscribe

    LONDON (Sputnik) - The UK’s Gross Domestic Product (GDP) fell by a record 19.8 percent in the second quarter of 2020, although the contraction was slightly smaller than initially estimated, the Office for National Statistics (ONS) reported on Wednesday.

    "UK gross domestic product (GDP) is estimated to have contracted by 19.8% in Quarter 2 (Apr to June) 2020, revised from the initial estimate of a 20.4% fall," the ONS said.

    According to the official report, this is the largest quarterly contraction in the UK economy since quarterly records began in 1955, and the second consecutive decline in a three-month period since the COVID-19 pandemic struck.

    The ONS added that current data reflects the direct impact of the measures the government has taken to tackle the novel coronavirus, including public health restrictions and voluntary social distancing.

    Last week, UK Prime Minister Boris Johnson announced a set of new restrictions for England, citing the spike in the coronavirus hospitalisations. According to the new regulations, office workers who can work from home are encouraged to do so, while all pubs, bars and restaurants should operate a "table-service only" except for take-aways. The new rules are expected to remain in place for six months.

    Tags:
    GDP, economy, UK
    Community standardsDiscussion