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The Financial Times reports on official figures that show Britain has collapsed into its largest recession on record after the coronavirus lockdown caused a 20.4% contraction between April and June. The UK economy suffered a bigger slump than any other major European economy in the second quarter, with Labour claiming the government’s handling of the pandemic had contributed to “the worst recession in Europe”. But there is reason to be hopeful, according to one expert quoted by the paper, who said although the quarterly numbers were bleak, figures from June – which showed output grew by 8.7% – suggested there was a “strong bounce in activity as the economy emerged from lockdown”.