Thursday, January 27, 2022

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

- Advertisement -

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

Also Read:  CMC Tenders Apology To Erica And Her Fans
- Advertisement -

Related Articles

- Advertisement -

Leave a Reply

Stay Connected

- Advertisement -

Latest Articles