Covid-19: UK Officially In Recession For First Time in 11 years As Economy Plunges By 20%

Britain's Prime Minister Boris Johnson, Chris Whitty, Chief Medical Officer for England and Chief Scientific Adviser to the Government, Sir Patrick Vallance, attend a news conference on the novel coronavirus, in London, Britain March 3, 2020. Frank Augstein/Pool via REUTERS

The UK has officially plunged into recession after the coronavirus crisis sparked a record fall of 20.4% from April to June.

This follows a fall of 2.2% during January to March (Quarter 1).
Read Also: We Have A Shortfall of ₦125bn, Nigeria Is Going Into Recession – Minister of Finance, Zainab Ahmed Cries Out
A recession is defined as two successive quarters of decline in gross domestic product (GDP) – a measure of the size of the economy.

Such a slump has not been seen in the UK since 2008 and 2009 during the global financial crisis.

Boris Johnson
Photo Credit: Getty

Leave a Reply