The UK downturn in H1 of this year is deepest since the Office for National Statistics started tracking quarterly GDP in 1955 + worst of any developed country during Covid-19 crisis. Q2 drop was 20.4%.
This compares with 12.1% for eurozone, 9.5% for US, 10% for Germany, 8.6% for Sweden (no lockdown) and 18.5% for Spain, worst after UK. UK heavily reliant on services, worst hit by lockdown. ONS also says UK in lockdown for longer period than other economies.
Beware of reports saying UK is in recession. It was in H1, by two consecutive quarters of downturn definition. It is no longer in recession, since economy growing again in Q3 and will too in Q4. But not by enough to reverse H1 fall.
