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The UK economy will continue to shrink in the coming months

Photo: cnbc

The UK economy shrank 5.8% in March from a month earlier, according to preliminary data from the Central Bureau of Statistics.

The decline is partly due to the closure measures announced by the government, which slowed economic activity in the kingdom.

This is the sharpest monthly decline since 1997.

It is estimated that the second quarter will contract even sharper.

Prime Minister Boris Johnson announced closure measures and traffic restrictions on March 23 in an attempt to curb the spread of the Corona epidemic. So far, 227,000 verified patients have been reported in the kingdom. Earlier this week, Johnson revealed his plan for a gradual easing of the closure in the coming months.

AdygBusiness  -  15.05.2020