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Britain’s GDP shrinks by a fifth

Britain’s GDP shrinks by a fifth

Figures from the Office for National Statistics next week are expected to show the UK economy shrank by 20% in the second quarter, the biggest three-month fall on record. This follows a 2.2% fall in the first quarter and puts Britain into a technical recession. The UK’s reliance on services means its economy will likely be hit harder than any other advanced nation. Spain has recorded an 18.5% drop while the US registered a 9.5% fall.

Read more: The Time


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