CLEAN : UK in 'the biggest recession in history' after GDP contracted by 20% (expert)

The UK economy has entered a significant recession, with a 20% contraction in the second quarter due to the pandemic. The economy's reliance on consumer sectors and a prolonged lockdown contributed to this downturn. Although recovery has begun, challenges like high unemployment and Brexit uncertainties persist. Business confidence is low, with many companies delaying hiring and investments. The government initially helped businesses bridge the crisis, but ongoing support is needed for recovery, including grants and loan restructuring.

What was the approximate contraction percentage of the UK economy in the second quarter due to the pandemic?

• 15%

• 10%

• 20%

• 25%

Which sector is the UK economy particularly reliant on compared to other advanced economies?

• Manufacturing

• Consumer sector, hospitality, and leisure

• Technology

• Agriculture

What is a major concern for businesses in the UK as they face recovery challenges?

• High inflation

• Brexit uncertainties

• Rising oil prices

• Increased competition from Asia

What is the current state of business confidence in the UK?

• At an all-time high

• Improving steadily

• Moderate

• Near an all-time low

What type of support do businesses still need from the government to aid recovery?

• Grants and loan restructuring

• Tax increases

• Increased tariffs

• More regulations