The fastest economic drop since 1958

Link to the article: Channel 4 News

By Faisal Islam

Economic output is shrinking at an even faster rate than previously calculated, according to official figures.

Output slumped by 2.4 per cent in the first quarter of this year and that is the biggest quarterly drop recorded in more than half a century.

The dire state of construction, and bigger falls in the service sector explain the worsening situation and in turn falling output could also further undermine the public finances.