UK economy plunges into deep recession, Rishi Sunak admits hard times are here
The UK economy plunged into a deep recession as it shrank 20.4 per cent between April and June at the height of the coronavirus lockdown, according to new figures released on Wednesday. Reacting to the Office for National Statistics (ONS) data, UK Chancellor Rishi Sunak admitted that it indicated that the hard times had warned about are here and that many more jobs will be lost
"Overall, productivity saw its largest-ever fall in the second quarter. Hospitality was worst hit, with productivity in that industry falling by three-quarters in recent months, he said. Source: Reuters