UK economy drops 19pc in 3 months

15 July, 2020 12:00 AM printer

LONDON: Britain's economy slumped by almost a fifth in the three months to May compared with the prior December-February period, as the coronavirus lockdown ravaged activity, official data showed Tuesday.

The Office for National Statistics (ONS) said GDP fell by 19.1 percent in the three months to May "as government restrictions on movement dramatically reduced economic activity," reports AFP.

Output however grew by 1.8 percent in May from April as the government began to ease restrictions, particularly boosting construction and manufacturing.

Nevertheless, the UK economy is far from recovery after record falls suffered in March and April, when Britain was in full lockdown in a bid to halt the deadly COVID-19 outbreak.

The economy remains about 24.5 percent below its size in February before the pandemic spread.

"Despite this, the economy was still a quarter smaller in May than in February, before the full effects of the pandemic struck.