CORONAVIRUS OUTBREAK CONTINUES TO NEGATIVELY IMPACT UK ECONOMY


14/08/2020




Serhat TUNAR -TDO- A statement from the British Office for National Statistics said the economy contracted by about 20 per cent in the second quarter and went into recession. The UK economy has plunged into recession after 11 years.

Samuel Tombs, economist at Pantheon Macroeconomics, who shared his views on the data with the media, said: "the long-term quarantine has adversely affected the performance of the economy, as the government has been slow to respond to the outbreak's spread and has failed to prevent the outbreak from spreading out of hospitals."

Jonathan Athow, National Statistics expert at the British Office for National Statistics, said the economy started to recover from last June with stores reopening, factories re-manufacturing and a resurgence of the construction sector.


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