Industry reacts as economy shrinks 20%

Industry News | 14/08/20

Economists have responded to the stats that show GDP contracted by 20.4% in the second quarter, as the country was sunk into its deepest recession on record and the worst recession of any G7 country. The Office of National Statistics (ONS) said the economy bounced back in June as restrictions started to ease with a growth of 8.7%, after a growth of 1.8% in May. But GDP remains a sixth below its February level.

Source: Credit Strategy