Deutsche Bank said on Monday it expected Britain's economy to shrink 6.5% in 2020 in what it suggested could be the biggest recession for a century.
FILE PHOTO: General view of the Canary Wharf financial district, as the spread of the coronavirus disease continues, London, Britain, April 6, 2020. REUTERS/Matthew Childs
- Deutsche Bank said on Monday it expected Britain’s economy to shrink 6.5% in 2020 in what it suggested could be the biggest recession for a century. The bank said the economy had likely contracted 1.9% in the first quarter and predicted a record 13% drop in the April-June period on a quarter-on-quarter basis.
While Deutsche saw UK growth rebounding swifty, it warned of “downside risks”, hinging on the duration of the economic lockdown. “For now, we expect growth of COVID-19 cases to peak by around mid-April. Should this prove optimistic, the hit to the economy will likely be more acute than anticipated,” the bank added in a research note.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Bank of America sees booming rescue loan demand, with applications for nearly 10% of allotmentBank of America said it's seen fierce demand for rescue loans with applications accounting for about 10% of the amount provided by Congress.
Lire la suite »
Swedish central bank chief sees no deflation risk at the moment - TTSwedish central bank governor Stefan Ingves doesn't see a risk of deflation at the moment, although it can't be ruled out in the short term, he said in an interview with news agency TT published on Sunday.
Lire la suite »
IBM taps former Bank of America CTO to oversee cloud businessInternational Business Machines Corp on Monday named former Bank of America Corp top technology executive Howard Boville head of its cloud business, as Arvind Krishna takes over from long-time chief Ginni Rometty.
Lire la suite »
Small Business Stimulus Loans: Bank Of America Has Received Applications For $32.6 Billion, Wells Fargo Says It Can’t Meet Demand Due To Fed RestrictionsBank of America has seen applications from 177,000 small businesses that account for $32.6 billion, while Wells Fargo says it can't meet demand due to fed restrictions by theothersarahh
Lire la suite »
Small Business Stimulus Loans: Bank Of America Has Received Applications For $32.6 Billion, Wells Fargo Says It Can’t Meet Demand Due To Fed RestrictionsDemand for the Paycheck Protection Program under the CARES Act is skyrocketing.
Lire la suite »
Swedish central bank chief sees no deflation risk at the moment - TTSwedish central bank governor Stefan Ingves doesn't see a risk of deflation at the moment, although it can't be ruled out in the short term, he said in an interview with news agency TT published on Sunday.
Lire la suite »