Recession looms as GDP plummets during coronavirus outbreak | ITV News

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Output fell in March, across all sectors of the economy and, in many cases, at a record-breaking pace.

The economy contracted by 5.8% in March, the biggest monthly fall that the ONS has ever recorded.

All first estimates are subject to revisions but the ONS says it’s confident it’s got its sums right, that the margin of error will prove to be small.

Lockdown only began on March 23. We lost only seven working days and the results are grim. The contractions in April and May will be even larger.

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