U.K. Economy Forecast to Shrink Record 35% by June Due to Coronavirus

ByNicole
uk.-economy-forecast-to-shrink-record-35%-by-june-due-to-coronavirus

The U.K. economy could shrink by a record 35% by June as a result of the coronavirus pandemic, according to the country’s official independent fiscal watchdog the Office for Budget Responsibility (OBR).

The OBR said a three-month lockdown followed by three months of partial restrictions would cause an economic decline of 35.1% in the quarter to June.

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