The UK has officially entered into the largest recession on record as the economy plunged by 20.4% between April and June due to the coronavirus.

The Office for National Statistics (ONS) confirmed that the economy had nosedived into recession for the first time since the financial crisis after two successive quarters of decline in gross domestic product (GDP).

Monthly figures did show that the economy bounced back by 8.7% in June as lockdown restrictions eased.

But the ONS said the economy is still a long way off from recovering the record falls seen in March and April after tumbling into “the largest recession on record”.

Jonathan Athow, deputy national statistician at the ONS, said: “The recession brought on by the coronavirus pandemic has led to the biggest fall in quarterly GDP on record.

“The economy began to bounce back in June, with shops reopening, factories beginning to ramp up production and house-building continuing to recover.

“Despite this, GDP in June still remains a sixth below its level in February, before the virus struck.

“Overall, productivity saw its largest-ever fall in the second quarter. Hospitality was worst hit, with productivity in that industry falling by three-quarters in recent months.”