![\"\"](\"http:\/\/irishexaminerusa.com\/wp\/wp-content\/uploads\/2020\/08\/EfMtIViXgAAipgC.png\")
Britain has officially entered into the largest recession on record after figures showed the pandemic sent the economy plunging by 20.4 per cent between April and June.<\/p>\nBritain has officially entered into the largest recession on record after figures showed the pandemic sent the economy plunging by 20.4 per cent between April and June.<\/p>\n
The Office for National Statistics (ONS) confirmed the UK\u2019s nosedive into recession for the first time since the financial crisis after the record-breaking contraction in the second quarter, which follows a 2.2 per cent fall in the previous three months.<\/p>\n
A recession is defined as two successive quarters of decline in gross domestic product (GDP).<\/p>\n
However, monthly figures showed the economy bounced back by 8.7 per cent in June, following upwardly revised growth of 2.4 per cent in May, as lockdown restrictions eased.<\/p>\n
The ONS said the economy is still a long way off from recovering the record falls seen in March and April after tumbling into \u201cthe largest recession on record\u201d.<\/p>\n
Jonathan Athow, deputy national statistician at the ONS, said: \u201cThe recession brought on by the coronavirus pandemic has led to the biggest fall in quarterly GDP on record.<\/p>\n
\u201cThe economy began to bounce back in June, with shops reopening, factories beginning to ramp up production and house-building continuing to recover.<\/p>\n
\u201cDespite this, GDP in June still remains a sixth below its level in February, before the virus struck.<\/p>\n
\u201cOverall, productivity saw its largest-ever fall in the second quarter. Hospitality was worst hit, with productivity in that industry falling by three-quarters in recent months.\u201d<\/p>\n