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  • UK’s NIESR sees 15-25% fall in GDP in second quarter due to coronavirus - FILE PHOTO: A usually crowded Canary Wharf is seen at lunchtime, as the number of coronavirus disease (COVID-19) cases grow around the world, in London, Britain March 19, 2020. REUTERS/Dylan Martinez April 9, 2020 LONDON (Reuters) – British economic output could shrink by as much as a quarter during the April-June period after a 5% fall in the first three months of the year, forecasters at the National Institute of Economic and Social Research said on Thursday. NIESR, a think tank which produces estimates of gross domestic product growth after the release of official data, said a 5% fall in first-quarter GDP was possible followed by a 15-25% decline in the second quarter if the coronavirus lockdown continues. “COVID-19 and the global lockdown has thrust the economy into unknown territory where we could see GDP declining at a record quarterly rate. Nonetheless, instant and significant recovery remain a distinct possibility… ... [Read more...]

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