UK’s record GDP slump was slightly less severe than thought, says ONS

Britain still experienced worst Q2 contraction of any major economy despite revised figure

The UK economy’s record contraction in the second quarter was slightly less severe than first thought, but the 19.8% plunge still resulted in Britain experiencing the worst slump of any major economy.

The Office for National Statistics (ONS) revised the second quarter figure down from an earlier estimate of 20.4%, while updated figures also showed a steeper contraction of 2.5% between January and March. It previously estimated that GDP fell 2.2% in the first quarter.

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