Economics
U.K. Economy’s 20% Record Plunge Adds Pressure for More Aid
- Downturn came across the board, with construction falling 40%
- Data round off difficult week for Boris Johnson’s Government
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The U.K. economy shrank a record 20.4% in April as businesses and workers reeled under the lockdown designed to control the coronavirus pandemic.
The contraction means the nation has effectively seen almost 18 years of growth wiped out in two months. While a rebound is likely as businesses start to reopen, the grim figures will increase the pressure on the government and Bank of England to do more to support the recovery.