Global Economic News

UK Economy Logs Biggest Contraction Since 1955

The UK economy contracted at the fastest pace on record in the second quarter amid the coronavirus pandemic, despite signs of recovery taking hold in June after the relaxation of restrictions on movement.

Gross domestic product contracted by 20.4 percent sequentially in the second quarter, following a 2.2 percent drop in the first quarter, the Office for National Statistics reported Wednesday.

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by RTTNews Staff Writer

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