October 22, 2020

UK economy shrinks by one-fifth under lockdown

Breaking News image

The UK’s economy shrank by 19.1% in the three months to May, as the full impact of lockdown was felt, the Office for National Statistics has said.

The economy actually grew by 1.8% in May, but this was not enough to make up for the fall of 6.9% in March and the record 20.4% decline in April.

Manufacturing and house building showed signs of recovery in May as some businesses saw staff return to work.

Despite this, most of the economy was “in the doldrums”, the ONS said.