The UK's Economy shrank by 20.4% in April | UK Market Update

  • Jun 12, 2020 BST
  • Team Kalkine

The UK's economy shrank by 20.4% in April - the largest monthly contraction on record - as the country spent its first full month in lockdown. The contraction is three times greater than the decline seen during the whole of the 2008 to 2009 economic downturn. Analysts said April was likely to be the worst month, as the government began easing the lockdown in May. The ONS published figures for the three months from February to April, which showed a decline of 10.4% compared with the previous three-month period.

British Airways, Ryanair and EasyJet have filed a formal legal challenge to the government's quarantine policy. The airlines say the policy will have "a devastating effect on British tourism and the wider economy" and destroy thousands of jobs.

More than a third of employees in some towns in Britain have been furloughed due to coronavirus, according to figures that also reveal the government’s job retention scheme has now cost almost £20bn. Crawley in Sussex, which sits next to Gatwick airport, had 33.7% of employees furloughed last month while in contrast Cambridge had just under half that proportion at 17.4%.

#UKEconomy #BritishAirways #Kalkine

 


Disclaimer
The video has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above video is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.

 

With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities. 

Amidst this, are you getting worried about these falling interest rates and wondering where to put your money?

Well! Team Kalkine has a solution for you. You still can earn a relatively stable income by putting money in the dividend-paying stocks.

We think it is the perfect time when you should start accumulating selective dividend stocks to beat the low-interest rates, while we provide a tailored offering in view of valuable stock opportunities and any dividend cut backs to be considered amid scenarios including a prolonged market meltdown.

To know more about these dividend stocks, click here

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK