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The UK economy shrank more than it has done in 65 years, plunging nearly 20% in the second-quarter | Markets – Business Insider

The UK economy shrank more than it has done in 65 years, plunging nearly 20% in the second-quarter

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  • The UK economy posted a record contraction in the second quarter of the year, with gross domestic product plunging 19.8% between the months of April and June.
  • The latest figures show that the UK’s quarterly decline was less severe than previous estimates by the Office for National Statistics.
  • It is the largest decline since quarterly records began in 1955, and reflects the harsh impact of ongoing containment policies that were put in place to contain th…

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