Record Contraction of the British Economy in March Due to Corona Crisis

Britain’s economy shrank by 5.8 percent in March from February under pressure from the corona crisis and anti-virus outbreak measures.

According to the British statistics agency, the strongest shrinkage in a month has ever been measured.

Due to the crisis and the restrictive measures introduced by the British government in March, much of the economy came to a standstill.

Many companies in Great Britain closed their doors. These lockdown measures are now gradually being relaxed.

Over the entire first quarter, a contraction of 2 percent was measured compared to the previous period, according to the statistics bureau.