(Worthy News) – The U.K. economy has officially plummeted into recession after official figures announced Wednesday showed a stunning 20.4% drop in the second quarter of the year – the biggest drop since quarterly records began in 1955.
The recession is the deepest coronavirus-related drop among the top leading industrial economies and followed a 2.2% contraction in the first three months of the year. It’s the country’s first recession in 11 years.
The government’s Office for National Statistics (ONS) reported record quarterly falls between April and June in services, production and construction output, and a drop in private consumption by 23.1 percent – which accounted for more than 70 percent of the GDP drop. [ Source: Fox News (Read More…) ]
We're being CENSORED ... HELP get the WORD OUT! SHARE!!!
Latest Worthy News
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
