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UK economy suffers ‘largest quarterly fall since 1979’

The economy contracted at a sharper rate than initially thought in the first quarter of the year as the coronavirus crisis gathered speed

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An update from the Office for National Statistics (ONS) covering the first three months of 2020 showed gross domestic product (GDP) fell by 2.2% compared to the previous quarter.

It had previously given an initial reading of 2%.

The number-crunchers said the revised figure meant the economy had endured its worst quarterly fall since 1979.

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Jonathan Athow, deputy national statistician at the ONS, said: “Our more detailed picture of the economy in the first quarter showed GDP shrank a little more than first estimated.

“This is now the largest quarterly fall since 1979.

“Information from Government showed health activities declined more than we previously showed.

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