UK economy set to fall by record 15pc during second quarter

The UK’s economy is set to have contracted by a record 15pc during the second quarter of 2020 - as the manufacturing sector warned of its "toughest ever" outlook. Economists at the EY Item Club have downgraded their view of the damage to the UK economy from coronavirus - and warned 2019 levels of output would not be reached again until 2023. As well as the 15pc fall in GDP during the second quarter, they predict GDP across the year will fall by 8pc. That compares to predictions in April of