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After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted.
Despite near-term optimism, only six participants believed that the British economy recovered. Almost 85% of participants, 32 of 38, believed that the outlook remained stagnant or had worsened over the previous month.
But as the country emerged from lockdowns and people started spending again, the economy was predicted to expand 12.2% in the third quarter. This prediction placed higher than June’s outlook of a 10.5% growth.
The increase followed after the second quarter had seen an 18.9% contraction. Meanwhile, economists believed that a second wave of virus outbreak would threaten any economic recovery.
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
After a steep decline at the start of the year, China’s economy showed vast recovery in the second quarter despite still getting plagued with major economic debacles in weak domestic consumption and investment amid the unrelenting coronavirus ...
On Tuesday, United States Federal Reserve officials warned a "thick fog of uncertainty" on the U.S. economy as it slowly recovers amid the surge in coronavirus cases. The U.S. central bank stated that the pandemic's second wave would cause ...
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