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For The First Time In 11 Years, UK Hits Recession

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For The First Time In 11 Years, UK Hits Recession
For The First Time In 11 Years, Hits

For the first time in the last eleven years, the UK economy suffered its biggest slump on record between April and June as lockdown measures pushed the country officially into recession.

The economy shrank 20.4% compared with the first three months of the year.

Household spending plunged as shops were ordered to close, while factory and construction output also fell.

This pushed the UK into its first technical recession – defined as two consecutive quarters of economic decline – since 2009.

Chancellor Rishi Sunak told the BBC that the government was “grappling with something that is unprecedented” and that it was “a very difficult and uncertain time”.

But shadow chancellor Anneliese Dodds blamed Prime Minister Boris Johnson for the scale of the economic decline, saying: “A downturn was inevitable after lockdown – but Johnson’s jobs crisis wasn’t.”

Samuel Nelson
OduNews on Google News

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