UK economy contracts by less severe 19.8% between April and June

The UK economy’s record contraction in the second quarter was less severe than first thought after revised official figures showed the pandemic sent gross domestic product plunging 19.8% between April and June.

The Office for National Statistics (ONS) also revised first-quarter figures, which now show a steeper contraction of 2.5% between January and March.

It previously estimated that GDP fell 2.2% in the first quarter and 20.4% in the following three months.

Despite the revisions, the UK economy still tumbled into the largest recession since current records began after two successive quarters of falling GDP due to the coronavirus crisis.

The ONS said: “While it is still true that these early estimates are prone to revision, we prefer to focus on the magnitude of the contraction that has taken place in response to the coronavirus pandemic.

“It is clear that the UK is in the largest recession on record.

“The latest estimates show that the UK economy is now 21.8% smaller than it was at the end of 2019, highlighting the unprecedented size of this contraction.”