UK economy shrinks by record 20 per cent in April as lockdown hits business

The scale of the collapse in the UK economy is breathtaking. Output has dropped by a fifth in one month.  April’s record collapse shrinks the economy back to its level 18 years ago. This should be as bad as it gets. The governor of the Bank of England says there are signs the economy is beginning to come back to life but warned it’s still early days.