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UK economy shrinks by a record 5.8% in March
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The UK economy shrank by a record 5.8% in March from February as the coronavirus crisis escalated and the government ordered a shutdown of much of the country to stop the spread of the virus, official data showed today.
In the first three months of the year, the UK's gross domestic product contracted by 2% from the last three months of 2019, the Office for National Statistics said.
That was also the largest quarter-on-quarter fall since the end of 2008, during the depths of the financial crisis, though slightly smaller than the average 2.5% forecast in a Reuters poll of economists.
Figures for April are likely to show an even bigger fall because the entire month was spent under lockdown by British companies and consumers.
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