How Britain’s seismic slump stacks up with others around the world…

THE record-breaking slump ranks Britain as one of the world’s worst-performing economies – but the UK is certainly not alone.

The pandemic has decimated economies globally as people stay in, spend less and output winds down to almost a complete standstill.

Here we assess the performance of some of the world’s biggest economies:

EUROZONE:

12.1 per cent drop in the second quarter after a 3.6 per cent decline in the first. Its economy is set to shrink 7.3 per cent this year and may only recoup twothirds of the hit by the end of next year, with a full recovery likely only by 2023.

GERMANY:

10.1 per cent drop in the first quarter after a 2 per cent decline in the first Jobless numbers rose by 238,000 between April and May with unemployment at 6.3 per cent. More than 10 million people applied for the government’s furlough scheme.

Forecasts estimate the economy would shrink by 6 per cent this year, but growth of 5 per cent could be possible next year.

FRANCE:

13.8 per cent drop in the second quarter after a 5.9 per cent decline in the first. The French economy will rebound by 19 per cent in the third quarter and 3 per cent in the final three months of the year, according to estimates. For the whole of 2020 the economy is set to shrink by 9 per cent.

ITALY:

12.4 per cent drop in the second quarter after a 5.4 per cent decline in the first.

SPAIN:

18.5 per cent drop in quarter two after a 5.2 per cent decline in quarter one.

US:

Arguably the hardest-hit country with a 32.9 per cent drop annualised (was 9.7 per cent in comparative terms with other countries) after 5 per cent annualised drop in first quarter.