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Forecaster's predict UK economy could plunge by 35 per cent - with employment hitting 3.4 million

Britain economy Government Coronavirus
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The UK economy could fall by 35 per cent in the second quarter of the year with unemployment hitting 3.4 million, according to an analysis from the Office of Budget Responsibility (OBR).

Experts predicted that the lockdown could leave around one in 10 of the working population without a job. The prediction is based on the UK remaining in lockdown for three months, followed by another three months where restrictions would be partially lifted.

The OBR stressed that this is a single scenario where “for now, we have not assumed the shock has lasting economic consequences” and should not be taken as a sign of what government policy is likely to be.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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