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Experts from the National Institute for Economic and Social Research compared the likely volume of UK GDP in two scenarios: in the event of the implementation of the Brexit deal proposed by the government, and if the country remained in the EU. In the former case, GDP in the long term will be 4% lower than in the later case. The loss per capita in the case of the first scenario is 3% of GDP. If the UK remains in the Customs Union, then this figure will drop slightly, but still the losses will be at the level of 2% of GDP. The institute experts believe that the uncertainty regarding the exact form of future relations between Britain and the EU will persist even after the end of the transition period at the end of 2020.
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
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