Britain is facing 'significant recession', says Rishi Sunak
by Larry Elliott Economics editor from Economics | The Guardian on (#53D3J)
UK economy shrank by 2% in first quarter after record monthly plunge, ONS data shows
The chancellor, Rishi Sunak, has warned that Britain is facing a significant recession" after the government's latest growth figures showed that the first few days of the country's lockdown caused a record drop in economic activity.
Figures from the Office for National Statistics showed that just nine days of harsh restrictions on businesses caused output to fall by 5.8% in March, and by 2% in the first three months of the year.
Related: How are Britons faring since coronavirus hit the economy?
Continue reading...