Construction shrinks by a record amount in March as covid-19 sends economy into reverse

By Dave Rogers2020-05-13T07:23:00

Sector fell by 5.9% during the month

Gross domestic product fell by 5.8% in March alone as the country saw its biggest quarterly fall since the depths of the financial crisis in 2008 as the covid-19 slump begins.

The figures reveal that the 2.0% fall in the first quarter of this year was the largest drop since the last quarter of 2008 – when the collapse of Lehman Brothers triggered a worldwide financial collapse. The March drop is the worst since ONS records began in 1997.

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