V shaped recovery or W shaped double-recession for the UK? More like a flat U
- Written by Hilary Ingham, Senior Lecturer, Department of Economics, Lancaster University
Fortunately, it doesn't stand for U-turn.eamesBOT / shutter stockThe seeds of the 2020 UK recession were sown on March 23 when the UK prime minister, Boris Johnson, put England into its first coronavirus lockdown. Over the following month, UK GDP fell by 19.5%. In comparison, during the last financial crisis GDP shrank by just over 6% between...