The third straight quarter of declines knocked the size of real gross domestic product (GDP) to decade-low levels.

While the economy is emerging from the state of depression after lockdowns were lifted in late May, many analysts expect any rebound in the current quarter to be modest as a renewed rise in infections keep consumers’ purse-strings tight.

“The big decline can be explained by the decrease in consumption and exports,” said Takeshi Minami, chief economist at Norinchukin Research Institute.

“I expect growth to turn positive in the July-September quarter. But globally, the rebound is sluggish everywhere except for China.”

1.40pm update: US stocks set for surge when markets open

While the FTSE has had a slow morning, US stocks are expected to rally to close to an all time high when the markets open later today.

Wall Street’s S&P 500 has been tipped by Futures markets to rise by 0.4 percent.

12.00pm update: FTSE up after morning uncertainty

The FTSE has shrugged off the morning's uncertainty with a lunchtime surge.

After opening at 6,090 before dropping as low as 6,074, the index has since stabalised and risen.

The FTSE now sits at 6,130.

10.50am update: FTSE's sluggish start continues

FTSE is struggling to get going this morning, with a number of small surges immediately cancelled out by dips in the market.

After closing at 6,090 yesterday, the index rose to 6,104 on open before dipping back down to 6,093.

Another series of peaks and troughs has left FTSE at 6,101.

This marks a rise of 11 on the day, a 0.19% increase.

9.45am update: England's last commercial coal mine closes today

The Bradley Mine in County Durham will extract its last production of coal later today after plans to expand the site fell through.

The open-cast pit operated by the Banks Group is responsible for producing 150,000 tonnes of coal every year, however permission to extend its operation until 2021 was rejected earlier this summer.

The move falls in line with the Government’s commitment to produce coal-free electricity by 2025 but is set to make the UK reliant on foreign imports in the short term.

9am update: Cautious start for UK and EU markets

It has been a slow start to the days trading on both sides of the Channel this morning. 

FTSE is up 5 points, a rise of 0.08% on yesterday's close of 6,090. 

Euronext 100 is up 0.03%, CAC 40 is up 0.21%, DAX is up 0.19% and Swiss Market Index is up 0.14%.