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The U.K. economy contracted by 20.4% in the second quarter of 2020 as coronavirus-induced lockdowns hammered activity, according to preliminary figures released Wednesday.
GDP (gross domestic product) expanded by 8.7% in June, having shown a meek 1.8% recovery in May following April’s 20.4% contraction, the country’s sharpest on record.
The second-quarter plunge follows a 2.2% contraction in the first quarter. Analysts had expected a fall of 20.5% according to a Reuters poll.
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This article was originally published by Cnbc.com. Read the original article here.