Coronavirus: UK to nosedive into recession after COVID-19 triggers record slump

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A dramatic 21% downturn between April and June is expected to be confirmed by statisticians, following a previous 2.2% drop.

, the UK could take longer to recover than previously thought.Where jobs have been lost across the UK

However, it dampened hopes of a V-shaped recovery, saying the economy is not expected to jump back to pre-virus levels until the end of 2021. Philip Shaw at Investec said:"We are forecasting a monthly increase of 8.1% as more of the economy, such as 'non-essential' retailing, opened up in mid-June." He added:"July's figures next month should contribute strongly to a material rebound in the third quarter, but the test will come in the autumn when there are no further 'lockdown releases' to boost the economy, some restrictions are imposed and programmes such as the furlough scheme are wound up."

 

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Every single technician in my company has been asked to go part time until April 2021 . Nearly all have said they cannot afford it. So I'm guessing we will be facing redundancy selection soon

Yes like the rest of Europe but the U.K. will be growing g faster than the EU next yr

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