United Kingdom Economy Contracted at a 59.9 Percent Rate in Second Quarter
Some folks may have seen articles reporting that the United Kingdom’s economy shrank by 20.4 percent in the second quarter. While this number is accurate, it is reporting the quarterly rate of decline. We typically report GDP changes as annual rates, which implies taking the quarterly growth rate to the fourth power. In the case … Continue reading United Kingdom Economy Contracted at a 59.9 Percent Rate in Second Quarter
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