Wales enters 'largest recession on record' due to coronavirus pandemic

Video report by Carole Green

The UK has officially entered into the largest recession on record according to new figures out on Wednesday.

The coronavirus crisis has caused the economy to shrink by more than 20% between April and June according to the Office For National Statistics. 

Credit: ONS

It's the result of a drop in household spending- as shops were shut, factories closed and construction cancelled due to lockdown.

Important sectors in Wales like manufacturing, the creative industries, tourism and hospitality have all been hit hard.      

One of the sectors most severely affected by lockdown has been the Creative industries - which include arts and live events. On Tuesday night, venues across Wales lit up red to symbolise the industry going into red alert, as they joined a nationwide call to action over job losses.

Campaigners say almost 60,000 people in Wales are at risk of losing their jobs in the next few weeks, as the furlough scheme comes to an end.