April 18, 2021, 8:14


Borrowing Will Be Cheaper in Fall, Brits Will Be Pushed Into Spending, Financial Analyst Believes

Borrowing Will Be Cheaper in Fall, Brits Will Be Pushed Into Spending, Financial Analyst Believes

Looking forward, into the 3d Quarter of 2020, experts expect much better numbers for UK economy than in the first half of the year. However, London top financial analyst, working at the City, told Sputnik that there will still be economic shrinkage, roughly 8% on a year-on-year basis.

Britain found itself in the middle of a recession, following the Covid-19 pandemic of 2020. Amid numerous business closures, the latest announcement came from Natwest Bank, which on 12 August reported it will cut 500 jobs to cut costs.

A City analyst told Sputnik that although the GDP number has been unprecedented in the recent history of UK, having sunk 20.4 percent in Q2 of 2020 – the major factor was the complete shutdown of the economy in March and April. 

​Since April, the services sector (June), the hospitality sector (July) and the “eat out to help out” move (August) have kicked off which would have a positive impact on the economy, he explained.

In regards to government plan – going forward – fiscal support is anticipated in autumn, and the Bank of England is expected to proceed with further Quantitative Easing (QE).

The UK has been hit hard by the coronavirus pandemic, with the highest death toll in Europe registered in Britain, mounting to 46,611 deaths. As a result of businesses shutting down during the lockdown, “hundreds of thousands of people have already lost their jobs,” as per the UK Chancellor of the Exchequer Rishi Sunak. 

“…and sadly many more will,” Sunak added.

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Weather

Moscow

Today04/17/2021
15℃

Sun
04/18/2021
light rain

  • light rain
  • HI/LO: 9/5
  • Clouds: 97%
  • Wind: 6.07 m/s
  • Wind Direction: E
  • Pressure: 1022hPa
  • Humidity: 53%

Mon
04/19/2021
light rain

  • light rain
  • HI/LO: 7/4
  • Clouds: 100%
  • Wind: 5.36 m/s
  • Wind Direction: E
  • Pressure: 1025hPa
  • Humidity: 79%

Tue
04/20/2021
rain and snow

  • rain and snow
  • HI/LO: 6/3
  • Clouds: 100%
  • Wind: 9.64 m/s
  • Wind Direction: E
  • Pressure: 1019hPa
  • Humidity: 84%

Wed
04/21/2021
moderate rain

  • moderate rain
  • HI/LO: 8/4
  • Clouds: 100%
  • Wind: 9.31 m/s
  • Wind Direction: ESE
  • Pressure: 999hPa
  • Humidity: 94%

Thu
04/22/2021
light rain

  • light rain
  • HI/LO: 13/4
  • Clouds: 10%
  • Wind: 6.84 m/s
  • Wind Direction: SW
  • Pressure: 1019hPa
  • Humidity: 52%

Fri
04/23/2021
light rain

  • light rain
  • HI/LO: 15/5
  • Clouds: 7%
  • Wind: 5.52 m/s
  • Wind Direction: S
  • Pressure: 1019hPa
  • Humidity: 44%

NEWS

    Сторонняя реклама



    Статьи
    Статьи В
    Создание Сайта Кемерово, Создание Дизайна, продвижение Кемерово, Умный дом Кемерово, Спутниковые телефоны Кемерово - Партнёры