UK hit by worst economic contraction in 40 years, new figures reveal
UK hit by worst economic contraction in 40 years, new figures reveal
The UK economy shrank by 2.2% between January and March, the joint largest fall since 1979, figures reveal.
The Office for National Statistics (ONS) revised down its previous estimate of a 2% contraction, with all the main economic sectors dropping.
The first-quarter contraction is now the joint biggest drop since the July-to-September period in 1979.
The new data showed that GDP contracted by 6.9% in March and by 20.4% in April.
Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period.
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As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution?
By Charles Kelly, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.
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If you’d like further information on how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com
