UK Q2 GDP contraction was finalized at -19.8% qoq, revised from -20.4% qoq. That’s still the largest quarterly contraction in the economy since quarterly records began in 1955. It’s also the second straight quarter of decline after -2.5% qoq contraction in Q1. Annually, GDP contracted -21.5% yoy. By sector, services output contracted by -19.2%. Production output dropped -16.3%. Construction output dropped -35.7%.
