Britain show pandemic 2020 economy Britain

The UK economy dropped more than initially expected at the beginning of 2020, new statistics reveal

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manchestereveningnews.co.uk

here"Information from Government showed health activities declined more than we previously showed."All main sectors of the economy shrank significantly in March as the effects of the pandemic hit."The sharp fall in consumer spending at the end of March led to a notable increase in households' savings."Experts said the first quarter fall is likely to be followed by a double-digit decline between April and June, with the Bank of England expecting a 20% tumble.The first-quarter figures show that the services sector - which accounts for around three- quarters of UK GDP - shrank by a record 2.3%.All non-essential shops closed their doors from March 23 and were only allowed to reopen in England on June 14, while pubs and restaurants have had to.

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