England tiptoes out of lockdown as economy dives
8 || risingbd.com
England tentatively began easing its coronavirus lockdown on Wednesday, with some people who cannot do their jobs at home urged to return to work, as stark economic data showed the disastrous impact of the pandemic.
The worst-hit country in Europe with more than 40,000 deaths from COVID-19 according to official data, Britain has been in extensive lockdown since March 23. As of Wednesday morning, people in manufacturing and certain other sectors were being asked to return to work if they could.
GDP data on Wednesday showed the economy shrank by a record 5.8% in March from February, and the April data is likely to be even worse as the country was under lockdown for the entire month.
“We are seeing one (quarter of GDP contraction) here with only a few days of impact from the virus so it is now, yes, very likely that the UK economy will face a significant recession this year and we are in the middle of that as we speak,” finance minister Rishi Sunak said.
The government is loosening restrictions only gradually, for fear of triggering a second peak of infections. Prime Minister Boris Johnson has described the process as a “supremely difficult” balancing act.
Scotland, Wales and Northern Ireland, which have semi-autonomous governments, are sticking with a “stay at home” message for now, leaving England, the most populous UK nation, to take the lead in sending some people back to work. _Reuters
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