Britain’s economy has shrunk by a quarter since the pandemic began…and its fiscal watchdog fears the recovery will be slow and painful
- Latest: OBR warns recovery could take years
- Economists say recovery looks weak
- Rishi Sunak says figures show “scale of challenge”
- The key charts as manufacturing recovers but services struggles
- BREAKING: UK economy grew 1.8% in May – weaker than hoped
- Coronavirus – latest updates
Two Wall Street banks have also revealed the impact of Covid-19 on their businesses.
“Despite some recent positive macroeconomic data and significant, decisive government action, we still face much uncertainty regarding the future path of the economy.”
Economic confidence in Germany has taken a small knock this month.
The ZEW institute’s gauge of German economic sentiment has dipped to 59.3, down from 63.4 in June – and weaker than expected.
Today’s #ZEW investor confidence report suggests the recovery in #Germany will be choppy at best. $EUR@EricCulpLS reviews today’s survey results here: https://t.co/87qXqsupRP pic.twitter.com/XESM0YfIRZ