The most rapid decline was recorded in March – then the economy fell by 5.8%. The situation is due to quarantine.
The first quarter of 2020 recorded the deepest decline in the British economy since the global economic crisis of 2008. The relevant data was published by the Office of National Statistics, reports the Air Force on Wednesday, May 13.
It is noted that in the first quarter of 2020, the decline in economic growth was 2%, after zero growth in the last quarter of 2019. Moreover, the most rapid decline occurred in March – by 5.8%.
This fall is due to the cessation of normal economic activity due to quarantine restrictions caused by the pandemic.
In turn, an even greater slowdown in economic growth is expected in the second quarter before the economy begins to recover gradually.
Recall that Britain is introducing the first phase of quarantine weakening. Residents of England from Wednesday will be allowed to sunbathe, play sports on the street and visit the parks. At the same time, fines for violation of restrictive measures have been increased.
It was also reported that the number of victims of COVID in Britain exceeded 40 thousand. Recently, Britain overtook Italy in terms of the number of infected. Since the beginning of the COVID pandemic, 223 thousand people have been ill.