The Bank of England outlines the scale of the Covid-19 shock to the economy.
https://www.theguardian.com/business...nd-coronavirus
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The Bank of England has warned the British economy could shrink by 25% this spring and unemployment more than double as the coronavirus pandemic brings the country to an effective standstill.
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Although it warned that Britain faced extreme levels of uncertainty over the growth outlook as the country prepares to exit lockdown measures, the Bank said one “plausible illustrative economic scenario” was for a 25% plunge in GDP in the second quarter with unemployment more than doubling to around 9%.
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