UK economy contracted by 20.4% in April, the largest monthly fall on record

• The U.K. posted the biggest monthly fall in GDP (gross domestic product) on record in April, according to the Office for National Statistics.
• GDP fell by 20.4% compared to the previous month, a sharper contraction than the 18.4% expected by analysts polled by Reuters. This represented a 24.5% decline from April 2019, as lockdowns necessitated by the coronavirus pandemic hammered economic activity.
• In the three months up to the end of April, the economy contracted by 10.4% compared to the previous three-month period, the ONS also confirmed, again falling below analyst expectations of a 10% decline.

(Source: CNBC)