UK economy slump not as bad as feared but still a record

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Tower Bridge in London (Photo: Colin / Wikipedia / CC BY-SA 4.0)

LONDON (AP) — The British economy did not contract as much as originally thought during the second quarter of the year when coronavirus lockdown measures were at their most intense. However, the slump remained the worst on record.

The Office for National Statistics said Wednesday that the British economy contracted by 19.8% in the April to June quarter from the previous three-month period, slightly less than its previous estimate of 20.4%.

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When adding the first-quarter contraction, the agency said the economy is now 21.8% smaller than it was at the end of 2019, “highlighting the unprecedented size of this contraction.”