Just In: UK Falls Into Recession



The United Kingdom has fallen into recession for the first time in 11 years, The Precision NG can understand.

The economy shrank 20.4% compared with the first three months of the year, BBC reports.

Household spending plunged as shops were ordered to close, while factory and construction output also fell.

This pushed the UK into its first technical recession – defined as two straight quarters of economic decline – since 2009.

The Office for National Statistics (ONS) said the economy bounced back in June as government restrictions on movement started to ease.

“Despite this, gross domestic product (GDP) in June still remains a sixth below its level in February, before the virus struck,” Jonathan Athow, deputy national statistician for economic statistics, said.

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