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Britain 2020 pandemic economy crisis Britain

UK economy could fall 14% this year hitting 'worst level in 300 years'

Britain 2020 pandemic economy crisis
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www.mirror.co.uk
mirror.co.uk:

The Bank of England has warned the economy could face its biggest slump in over 300 years in 2020 on the back of the ongoing coronavirus crisis.

The UK's unemployment rate is also expected to reach 9%, as ministers remain in talks over how to 'wind down' the furlough scheme.

It comes as the Bank of England made the decision to hold interest rates at 0.10% on Thursday - after dropping the base rate twice since the start of the pandemic.

The Bank said it expects gross domestic product (GDP) to fall by around 3% in the first three months of 2020 and then plunge by a further 25% in the second quarter, although it cautioned over uncertainty over the forecasts.

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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
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United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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