UK economy shrinks 2% due to coronavirus crisis in worst fall since 2008
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mirror.co.ukThe UK economy shrank by 2% in the first quarter of 2020 as the coronavirus crisis saw activity contract at a record pace in March, official figures have shown.
The Office for National Statistics (ONS) said activity plunged 5.8% in March, sending first-quarter gross domestic product (GDP) tumbling in the biggest fall since the end of 2008 at the height of the financial crisis.
The latest figures show the first direct effect of the Covid-19 pandemic on the UK economy after the country was placed in lockdown to control the spread of the virus.
But with the lockdown only coming into place on March 23, the second quarter will show the full hit on the economy after the UK ground to a standstill.
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