Tag: worst

India GDP shows worst quarterly slump in decades

Related Topics Coronavirus pandemic image copyrightGetty Images image captionIndia has seen huge job losses in recent months India’s economy contracted sharply in the three months to the end of June, official data shows. It shrank by 23.9%, its worst slump since the country started releasing quarterly data in 1996. The coronavirus pandemic and a grinding lockdown caused massive disruptions to… Read more →

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Coronavirus: UK worst hit among major economies

Image copyright Getty Images The UK was the hardest hit by Covid-19 among major economies from April to June, the Organisation for Economic Co-operation and Development has said. Its economy suffered its biggest slump on record over the three-month period as coronavirus lockdown measures pushed the country officially into recession. Its 20.4% contraction was well above the 9.8% drop for… Read more →

Coronavirus: UK economy could be worst hit among leading nations, says OECD

Image copyright Getty Images The UK is likely to be the hardest-hit by Covid-19 among major economies, a leading agency has warned. Britain’s economy is likely to slump by 11.5% in 2020, outstripping falls in other developed economics of Germany, France, Spain and Italy, it said. If there were a second peak in the pandemic, the UK economy could contract… Read more →

Coronavirus: Airlines set for ‘worst’ year on record

Image copyright Getty Images The plunge in travel caused by the coronavirus will drive airline losses of more than $84bn (£66bn) this year, a global industry group has warned. The International Air Transport Association, which has 290 member airlines, said revenues would drop to $419bn, down 50% from 2019. That is steeper than initially forecast and comes despite recent signs… Read more →