UK economy suffers worst decline in 40 years due to Covid-19 pandemic

Britain’s economy

Britain’s economy has seen its largest contraction in more than four decades, according to figures from the Office for National Statistics (ONS). The nation’s gross domestic product plunged further than expected, by 2.2 percent.

That’s the biggest decline since the third quarter of 1979. The ONS had previously estimated a two percent drop, but it revised the figure after data showed a record 6.9 percent slump in March.

Continue reading