UK Economy Faces Long Climb Back To Health After Historic 20% Crash

• Britain’s economy shrank by a record of 20.4% in the second quarter when the coronavirus lockdown was tightest, the most severe contraction reported by any major economy so far, with a wave of job losses set to hit later in 2020.
• The data confirmed that the world’s sixth-biggest economy had entered a recession, with the low point coming in April when output was more than 25% below its pre-pandemic level. 

(Source: Reuters)