UK Economy Shrinks by 20.4%

The United Kingdom economy has shrunk by 20.4% since Q2 2020, marking the most prominent drop recorded since after World War Two. It’s placed the United Kingdom into a deep recession, more significant than any other global economy of G7 status. Stalemates in economic growth aren’t surprising in the United Kingdom; it’s something their financial analysts had warned when social distancing protocols were actively being broken. High infection numbers & loss of life prompted the UK workforce to decline tenfold, with the added attribute of prolonged lockdown measures forcing thousands of companies into closure.

UK’s GDP began collapsing in January 2020, the moment when COVID-19 began inflicting the European Union with its devastating symptoms. Declines stopped being record after June 2020, consistent to the end of Q2 2020. Economic damage for the 3rd and 4th Quarter will now be recorded, with Analysts expecting more prominent drops. Construction, Manufacturing, and Hospitality Services will continue to take the onslaught of these losses. Economic losses in the United Kingdom will likely drop by 35% by 2020s end.

The UK Finance Minister provided a formal statement regarding the confirmed percentages. Rishi Sunak emphasized that the 20.5% economic drop affirms that the United Kingdom has entered their worst recessions since WW2. Rishi clarified that thousands had lost their jobs, with higher number expects in the coming months. The Finance Minister didn’t hesitate to inform UK Civilians that harder times are coming, with more difficult choices ahead. Rishi Sunak believes that Great Britain & their commonwealth territories can survive the upcoming recession, which is historically consistent to the UK.

Enforcement Required

The United Kingdom is sustaining the most prominent recessions in the European Union and amongst their partnered G7 Nations. Records from France, Germany, Italy, and the United States have experienced 50% less of the economic fallout that Great Britain has experienced. Government Data in the United Kingdom incentivizes a prolonged lockdown for the continued economic stalemate.

Until their population obeys COVID-19 Protocols, losses will be sustained. Prime Minister Boris Johnson has struggled to enforce these measures, similar to President Donald Trump. Their communities are actively avoiding scientific data on COVID-19, believing the virus is a hoax or that face masks are necessary. These are the beginning implications of that mentality.