UK economy slumps 20% in second quarter, unemployment fears mount
Economy shrank by a record 20.4% between April and June, the largest contraction reported by any major economy so far, with a wave of job losses set to hit later in 2020.
#UK #recession
uk.reuters.com/article/uk-hea…
UK’s dilemma is mass layoffs or addiction to aid
Withdraw support for jobs and wages too soon and tip Britain into an unemployment crisis just as Brexit threaten growth. Some jobs may never return, others will be created post-crisis
#UK #recession
bloomberg.com/news/articles/…
UK economic scars could be deeper than BOE thinks
#Economy will likely be smaller at the end of 2021 than it was before plunging into a record recession this year
#UK #recession
bloomberg.com/news/articles/…
Central banks are full of optimists?
“Unlike #BoE chief economist Andy Haldane, who thinks it is now time to see the economic glass as ‘half-full’, recent data outturns have made us more pessimistic”
Takes at least 2 years to get back.
#UK #recession
uk.reuters.com/article/uk-bri…
UK economic revival clouded by debt, job losses and brexit
“We expect things to get tougher in the fall as the government’s furlough scheme ends and unemployment increases... recovery is likely to take a big leg down in the fourth quarter”
#UK #recession
bloomberg.com/news/articles/…
🇬🇧 UK faces tough choices on job furlough program
“The government cannot continue to underwrite the wages of large portion of the economy... The alternative is worse: a debt crisis similar to post-2008”
#UK #recession #debt #crisis
bloomberg.com/news/articles/…
🇬🇧 UK shows signs of recovery.
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.