UK GDP growth rate (April to June) minus 20.4% compared to the previous 3 months Worst ever August 12 18:02
In the United Kingdom, the growth rate of GDP (Gross Domestic Product) from April to June was a negative 20.4% compared to the previous three months, the highest ever, due to the stagnation of economic activity accompanying the spread of the new coronavirus infection. It has become depressed.
According to the British Bureau of Statistics, the growth rate of GDP from April to June was actually minus 20.4% compared to the previous three months.
Negative growth has continued for the second consecutive term, with the range of decline expanding from the negative 2.2% in the previous three months, to the maximum since 1955, when we began collecting quarterly statistics.
This is because many retail stores, restaurants, hotels, etc. have closed their business due to the spread of the new virus, and personal consumption has decreased significantly.
In addition, according to the Statistics Bureau, when this decline is converted into an annual rate, it is minus 59.8%, which is more than the minus 40.3% of the euro area, such as Germany and France, which decided to resume economic activity earlier than the UK.
Although economic activity has resumed in a wide range of fields in the UK, the central bank, the Bank of England, has predicted that the GDP growth rate over the course of the year will remain at minus 9.5%. With the number of unemployed people continuing to increase and concerns over the spread of infections, it is expected that it will take some time for the economy to return to pre-infection levels.