Record fall in UK economy forecast

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April 10, 2020

The forecast comes from the projections of more than a dozen top economists, who are surveyed every month by the Treasury, and were contacted by the BBC.

While the same economists predict a similarly large positive rebound after that, this year, annual UK GDP is still anticipated to fall significantly.

While there is no precedent for shutdowns of large swathes of the economy, 14 of the top economists from the City and business have calculated how much economic activity is being lost.
The estimates have an average of -14%. However they range from JP Morgan's calculation that UK GDP in the April-June quarter will come in at -7.5% - a sharp contraction - to Capital Economics' forecast of -24% - suggesting nearly a quarter of entire economic activity will be lost.



News date : 04/10/2020    Category : Health, World News

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