Office for National Statistics

According to the Office for National Statistics data, Britain's economy slumped more than twice as fast as it had been forecasted in the second quarter, marking the biggest annual fall since comparable records began in 1955. 

UK’s GDP, thus, lost 0.8% during the quarter, taking the annual decline to 5.6%, against expected 0.3% decline after a hefty 2.4% drop in the first quarter.

The economy has now declined for five consecutive quarters with a cumulative decline of 5.7%.