By Jason Douglas 

LONDON -- The U.K. recorded a steeper second-quarter contraction than any other rich country, a performance that means it suffered the worst economic hit from coronavirus in Europe as well as reporting the highest death toll.

The U.K. economy shrank 20.4% in the second quarter, equivalent to an annualized rate of 59.8%, the country's statistics agency said Wednesday. Over the same period, the U.S. and Germany lost around 10% of their output, with Italy losing 12%, France 14% and Spain 19%.

The economy is already recovering as restrictions on daily life ease and workers trickle back to factories and offices, recent data show, but Bank of England officials warn that it could take until the end of 2021 to regain the ground lost during the pandemic.

Write to Jason Douglas at


(END) Dow Jones Newswires

August 12, 2020 02:41 ET (06:41 GMT)

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