UK’s 2Q GDP to Contract 30% as a Lockdown Continues amid the Outbreak of Coronavirus!

Britain’s gross domestic product (GDP) could fall between 25%-30% in the second quarter mainly due to the outbreak of coronavirus, British Finance Minister Rishi Sunak in the meeting called for easing lockdown restriction.

 

The local media reported that ten ministers were pressing for the lockdown to be eased nex month as British GDP could fall to 30% amid the lockdown.

The British Prime Minister Boris Johnson has yet to comment on the report as he had just been released from the hospital on Sunday and currently under a recovery due to the advice from his medical team.

However, people were questioned on the decision to ease the lockdown as the UK has turned into one of the hotspots of the coronavirus outbreak. Yesterday, the UK reported additional 737 deaths from hospitals, bringing the total fatality in the kingdom to 10,612 while having 84,279 confirmed cases and only 344 people who have recovered from the infection, representing only 0.40% recovery rate.

The recovery rate of patients in the UK is very low when compared to other countries with relatively close case numbers. France has 95,403 cases and 27,186 that recovered, representing 28.49% of recovery rate. Germany has 127,854 cases with 48,988 recoveries, representing 39% of recovery rate. Iran has 71,686 cases with 43,894 people already recovered, representing 61.2% recovery rate.

Thus, raising doubts among the British whether the lockdown should be lift as the country has yet to contain the outbreak.