UK monthly GDP has recovered slightly after having experienced the biggest dip on record in April when the measure was down 20.4 percent compared with March. Between April and May, GDP in the UK rose again by 1.8 percent, but the dent the coronavirus has made in national accounts remains starkly visible.
As our chart shows, the massive 20.4 percent drop, which coincided with the first full month of lockdown, was the largest monthly fall since such records began in 1997. Speaking on BBC Radio 4's Today programme, deputy national statistician Jonathan Athow commented: "If you take March and April together the fall was 25 per cent. So in two months the economy shrank by a quarter. The biggest fall we have seen before was just over 2 per cent – so it’s 10 times the size of the largest fall we have seen before the coronavirus. Virtually every sector has been shrinking.”