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Brace for more stimulus from Johnson and the Bank of England, as U.K economy falls into recession

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The U.K. economy contracted by 20.4% in the three months ended in June, the worst performance among European major economies, and the sharpest fall of the G-7 group of the world’s biggest industrial powers.

– All sectors of the economy were affected by the downturn, with construction down 35% and the accommodation and restaurant business down, slumping by nearly 87%, the Office for National Statistics said on Wednesday.

– The slump in the second quarter officially plunged the U.K. into recession after output in the first quarter of the year fell 2.2%. That is despite a gross domestic product rise in June, up 8.7% due to the easing of the most drastic…



Source marketwatch.com

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