UK economy nosedives into recession

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It is official, the UK economy has entered a recession for the first time in 11 years!

Economic growth during the second quarter of 2020 was a horror show, plunging 20.4% after a 2.2% fall in the first three months of 2020. This was the worst GDP seen in western Europe and clearly illustrated the damaging impacts of coronavirus to the UK economy. To rub salt into the wound, it was only yesterday that data revealed an estimated one million jobs had already been erased during the coronavirus induced lockdown.

Surprisingly, the British Pound offered a fairly muted reaction despite the UK… Read More:

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