The United Kingdom is going by way of a “vital recession”, per the Chancellor, Rishi Sunak. The Situation of enterprise for National Statistics reported a epic topple in financial output in March.
The impact of the pandemic is at anxiousness of be even more unfavorable in the arrival months, with one expert warning that the economy is in “freefall”.
The economy shrank by 2% in the first 3 months of this yr, a length that involves handiest the first few days of the lockdown. The fair Institute for Fiscal Reports warned that the exact impact of the lockdown is but to be felt, with family spending insecure at the fastest fee in bigger than 11 years.
Huw Edwards gifts BBC News at Ten reporting from Economics Editor Faisal Islam.
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