Lockdown restrictions that were put into place during the 3-month lockdown have shown their teeth as official data shows the economy UK reduced by 19%.
Figures published today by the Office of National Statistics saw in the 3 months to May a record decline in gross domestic product by 19.1%.
In May there was actually a 1.8% rise but not nearly enough to counter the 6.9% fall in March and April’s 20.4% contraction.
The Duty National Statistician for Economic Statistics Jonathan Athow, said: “The are signs of recovery in the house building and manufacturing as staff started to return to work”.
The worst hit, falling 72%, was accommodation and food services. Retail saw some signs of picking up with online purchases. Construction fell 29.8%, Services by 18.9% and production fell by 15.5%.
The UK’s blue-chip index opened this morning on a 1% drop while the FTSE 250 fell by 1.4%.
No surprises with the figures. It is now all about planning for recovery whilst being mindful of a second wave of coronavirus.