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ECONOMY

UK Economy Shrinks 20.4% During April Lockdown

Official figures show that the British economy shrank by a colossal 20.4 per cent in April, the first full month that the country was in its coronavirus lockdown.

The Office for National Statistics said Friday that all areas of the economy were hit, in particular pubs, education, health and car sales.

Jonathan Athow, deputy national statistician for economic statistics, said April’s fall is “the biggest the U.K. has ever seen,” and “almost 10 times larger than the steepest pre-COVID-19 fall.” April’s decline follows a 5.8 per cent contraction in March.

In April, the economy was about a quarter smaller than it was in February. The UK was put into lockdown on March 23 and restrictions are slowly being eased. On Monday, nonessential shops, such as department stores and electronic retailers, are due to reopen. The UK economy shrank by an “unprecedented” 20.4% in April, the first full month of the coronavirus lockdown.

The new figures from the Office for National Statistics (ONS) mark the largest monthly contraction since records began in 1997 and massively outstrips the then-record 5.8% drop in March gross domestic product (GDP) reported last month.

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It means that GDP fell by 10.4 per cent in the three months to April and sets the UK on course for one of its worst quarters in history.

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