Britain's coronavirus-ravaged economy slumped almost one-fifth during the country's lockdown and remained set for its sharpest decline in annual output for 300 years, official data showed Tuesday.
Britain’s coronavirus-ravaged economy slumped almost one-fifth during the country’s lockdown and remained set for its sharpest decline in annual output for 300 years, official data showed Tuesday.
The Bank of England had already forecast that the UK economy could have its sharpest annual contraction in centuries. “Indeed, the path to full economic recovery will probably be much longer than most people anticipate.”The UK economy remains about 24.5 percent below its size in February before the pandemic spread.
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