UK plunges into deepest recession on record
Episode description
The UK plunged into its deepest recession on record in the first half of the year as the coronavirus lockdown saw the economy contract by more than a fifth between April and June.
The economy shrank by 20.4 per cent in the second quarter of the year, worse than any other G7 nation, taking the UK into its first recession since the 2008-2009 financial crisis.
The dramatic fall in output came after a 2.2 per cent drop in the first three months of the year.
Business Correspondent Ben Chapman joins host Tom Richell to discuss the impact of this announcement and what happens next.
You can read an excellent piece of analysis from Ben here as well: https://www.independent.co.uk/news/business/analysis-and-features/recession-uk-economy-gdp-falls-why-government-response-analysis-a9666366.html
Tap the link to support original reporting from The Independent: independent.co.uk/support
Subscribe to this series so you never miss an episode.
Hosted on Acast. See acast.com/privacy for more information.