UNIVERSITY NEWS LAST UPDATED : 12 AUGUST 2020
The UK economy suffered its biggest slump on record between April and June as coronavirus lockdown measures pushed the country officially into recession.
In a video shared today, Centre for Brexit Studies Researcher David Hearne discussed why this won’t come as a huge shock after months of lockdown, and how we could already be effectively ‘out’ of the recession due to easing of restrictions since June.
The expert also discussed how this recession compares with previous ones, as reports state that the latest slump is deeper than the 2008 financial crisis, as well as the deindustrialisation of the 80s and the oil shocks of the 70s.
With The Office for National Statistics (ONS) stating that the economy bounced back in June, David also discussed if there are signs that things will get better in the coming months, or if it’s simply too soon to predict.