The UK economy shrank to a record high in April – 20.4 percent – as a result of isolation measures aimed at fighting the new coronavirus. This monthly decline was observed in the data published by the National Statistics Office.
The decline is three times greater than the decline over the entire period from 2008 to 2009, when the world was facing an economic crisis. The Statistics Office also released data for three months, from February to April, which showed an economic decline of 10.4 percent. “The decline in gross domestic product is the largest in UK history, more than three times higher than last month and almost 10 times higher than before the Covid-19 eruption,” Jonathan said.
Athow, official for economic statistics at the National Statistics Office. “In April, the economy was about 25 percent smaller than in February. “All areas of the economy have been hit, bars, education, health, car sales, contributing to this historic decline.” The new coronavirus pandemic is said to have had a negative impact on British trade, as there have also been significant declines in exports and imports of cars, oil, and art.