Gdp Fall Underlines Depth of Crisis Figures Signal a Slow Recovery for Uk Economy at Best - or a Major Relapse at Worst Figures Signal a Slow Recovery for Uk Economy at Best - or a Major Relapse at Worst Analysis

Summary

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THE UK's economic output, it turns out, plummeted by 2.4per cent in the first quarter of this year alone.

This is the worst quarterly drop since 1958. It is much more precipitous than the 1.9per cent fall in gross domestic product calculated previously by the Office for National Statistics for the first quarter - which had been the sharpest contraction since 1979.

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Extract

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Gdp Fall Underlines Depth of Crisis Figures Signal a Slow Recovery for Uk Economy at Best - or a Major Relapse at Worst Figures Signal a Slow Recovery for Uk Economy at Best - or a Major Relapse at Worst Analysis

The 2.4per cent fall in output, not surprisingly, wrongfooted the City. It does, after all, equate to an annualised pace of decline of nearly 10per cent in the first quarter.

Thankfully, though, not even the most pessimistic of commentators are suggesting contraction will continue at anything like that rate.

The UK is expected to ...

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