UK economy shrinks by 20% in a single month as a result of the lockdown measures put in place during the coronavirus pandemic.
The Office for National Statistics said Friday that the economy shrank by a colossal 20.4% in April, the first full month that the country was. All areas of the economy were hit during the month, in particular pubs, education, health and car sales.
The monthly decline was unprecedented in scale and, adding the more modest 5.8% decline in March, means the U.K. economy is around 25% smaller than it was in February. With much of the economy still mothballed in May and June, the U.K. is heading for one of its deepest recessions ever — the Organization for Economic Cooperation and Development has warned that the country is set to be the hardest-hit developed economy this year.
Lockdown restrictions are slowly being eased, which should see the economy to start to pick up. On Monday, for example, nonessential shops, such as department stores and electronic retailers, can reopen if they can abide by social distancing requirements.Georgia to remove most restrictions on restaurants and movie theaters
Gov. Brian Kemp on Thursday signed an executive order that will remove many restrictions in Georgia next week on June 16, including allowing restaurants and movie theaters to no longer enforce maximums on the number of people who can sit together.
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