Wednesday, May 29, 2024
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ECONOMY Covid CRASH

The UK economy was the hardest hit by Covid-19 among major economies from April to June. As COVID-19 lockdown measures pushed the country into recession, the UK economy suffered its biggest crash on record over the three-month period. According to the Organisation for Economic Co-operation and Development there was a 20.4% contraction in the UK with Spain the next worst hit country, with a decline of 18.5%. It was the largest decline on record, completely overshadowing the 2.3% drop recorded in quarter one of the 2009 financial crisis.

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