The British economy shrank by a record 20.4% in April, a month in which the country was under strict quarantine and its consequences are three times worse than the 2008 financial crisis. From February to April the GDP of Great Britain decreased by 10.4% compared to the previous period.

In April, the airline market collapsed by 92.8% percent. Due to the closure of hotels, bars and restaurants, the accommodation and catering market shrank by 88%. The UK’s National Statistics Service says that almost all areas of the UK economy have been affected.

Most UK stores will reopen next week. Jace Tyrrell, chief executive of the UK’s largest association of retail and service businesses, the New West End Company, said:

“I think it will take time to normalize operations. And we are looking forward to the return of foreign tourists. Over the last 12 weeks, visitor numbers have fallen by 95%. It is very important that the British government continues to support the retail sector.

The Organization for Economic Cooperation and Development predicts that the British economy will lose 11.5% of GDP this year if there is no second wave of the epidemic.