UK economy shrinks by 2% as Covid-19 slump begins – business live
UK GDP has suffered its biggest quarterly fall since 2008, as the coronavirus lockdown hits the economy
- Introduction: UK economy shrank 2.0% in January-March
- March was worst month for growth on record
- Coronavirus – latest updates
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7.59am BST
The UK economy wasn’t doing particularly well before the Covid-19 lockdown struck.
GDP did rise by 0.1% in January (when there was talk of a post-election ‘Boris Bounce’), but the economy then contracted by 0.2% in February – as the coronavirus pandemic began to hurt the global economy.
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March was particularly awful for these sectors of the UK economy:
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