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UK Economy Collapses, Contracting by 20.4% in April, Largest Fall on Record

The UK economy posted its biggest monthly loss in GDP or gross domestic product, in the nation`s history in April, according to the Office of National Statistics. The fall of 20.4% was greater than market consensus which was 18.4% – a shocking number that many analysts are still trying to get their heads around. Many countries around the world are now grappling with massive breakdowns in economic activity and with lockdowns for 2 to 3 months, have seen GDP shrink by 10% to 25% in many G7 and G20 names. The key now is for economists to understand the impact coronavirus will have on economies in Africa, Latin America and parts of Asia, the less developed world. We feel that there will be energy and food shortages in 2020 and 2021 as global supply chains are breaking down.



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