UK economy braced for record quarterly economic contraction with more pain to come

The UK economy is braced for a record double-digit contraction in economic activity for the second quarter, with the economy expected to be worse affected than many of its European neighbours and possibly even the US. A subtle combination of Britain’s distinct economic structure and cultural factors account for the UK’s relative economic weakness. For example, the size of the UK’s consumer-facing sectors, such as hospitality, leisure and retail sectors, represent a relatively high proportion of the overall UK economy, compared with other nations.

Read full article here