Get the App
Join our growing community to challenge mainstream media bias and fix the news
UK plunges into recession after GDP shrinks 20.4% in the second quarter

UK plunges into recession after GDP shrinks 20.4% in the second quarter

The UK economy contracted by 20.4% in the 2nd quarter of 2020, compared to the previous 3 months, taking the country into its first recession since the 2008-2009 financial crisis. The plunge is the worst on record and follows a 2.2% contraction in the 1st quarter. A recession is defined as 2 successive quarters of decline in GDP. The US and eurozone have both already been in recession.

Simone
Simone
Singh
Singh 1 months

Can you imagine what will happen to the economy when the second wave comes? I hope the over-reaction will not be anywhere close to the same the first time around.

Top in Business