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UK enters largest recession on record according to ONS

12 Aug 2020 | BALI News

The UK has entered the 'largest recession on record' according to the Office for National Statistics (ONS). The official figures, released on Wednesday 12 August, shows the true impact of what the COVID-19 virus has had on the economy. 

The ONS reported that gross domestic product (GDP) slumped by 20.4% in the second quarter of the year, April, May and June, following a dip of 2.2% during the first three months of 2020. As a result, the economy was a sixth below February's pre-crisis level - as a monthly recovery for growth, which began in May, gathered further momentum during June.

With lockdown in full effect in April, this month provided the biggest downturn as non-essential businesses and services were told to close but was swiftly followed by a slight growth of 2.4% in May and 8.7% in June as restrictions were lifted.

The effects of the pandemic have stoked a crisis for employment, with the biggest slump in the number of people in work and on the payroll for more than a decade in the April to June quarter.

Data for July showed that 730,000 fewer people taking a salary home since lockdown started.

The British Association of Landscape Industries (BALI) has continued to provide a lifeline for members throughout the crisis with information, help, advice and support from the team at Landscape House. BALI will continue to offer this level of support as we move into the next phase of the virus and will be analysing all the necessary data from within the landscape services industry to determine the longstanding effects COVID-19 has had and will have, on businesses in horticulture.

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