Breaking News! UK Reports a Largest-Monthly Drop in GDP at 20.4%, Plunging by Coronavirus

The UK’s Office for National Statistics announced that its GDP in April dropped by 20.4% QoQ and 24.5% YoY, posting the biggest monthly decline in history.

The decline in the UK’s GDP was mainly due to the coronavirus outbreak since late February, causing the country to enter a lockdown, which paralyzed its economic activity.