For once, economists are united on one thing: official data on Friday will show that Britain's economy suffered a record collapse during April's coronavirus lockdown.
LONDON - For once, economists are united on one thing: official data on Friday will show that Britain’s economy suffered a record collapse during April’s coronavirus lockdown.
The least pessimistic saw an 8.5% drop, which would still be worse than anything during the 2008-09 global financial crisis. Economists concede there is limited value in producing precise forecasts for such a severe collapse in demand, especially during times of such historic volatility.Investors were shocked last week when data showed the United States added 2.5 million jobs in May after the consensus pointed to a drop of 8 million.
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