There was a sharp fall in consumer spending at the end of March, the ONS said The UK economy shrank more than first thought between January and March, contracting 2.2% in the joint largest fall since 1979, official figures show. The Office for National Statistics (ONS) revised down its previous estimate of a 2% contraction, with all the main economic sectors dropping. There was a significant economic impact in March, as the coronavirus pandemic began to have an effect. The data comes as the prime minister is set for a major speech on the economy . Jonathan Athow, deputy national statistician at the ONS, said: “Our more detailed picture of the economy in the first quarter showed GDP shrank a little more than first estimated. “Information from government showed health activities declined more than we previously showed. “All main sectors of the economy shrank significantly in March as the […]