The British economy recorded a contraction of 20.4% in the second quarter of 2020, the largest declared contraction of any major economy so far, in light of the general isolation measures to combat the Corona virus. / p>
According to Reuters, official data published on Wednesday showed that the sixth largest economy in the world entered a recession as it contracted for the second consecutive quarter.
The Office for National Statistics said there were signs of recovery in June only, when GDP grew 8.7 percent compared to May.
This is slightly more than the average analyst forecast of an eight percent increase in a Reuters poll. The growth in May was also revised upwards.
the Bank of England had predicted last week that it would take the economy until the last quarter of 2021 to regain its previous size, and warned that unemployment was likely to rise sharply.
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