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Podcast: Beyond Currency
Episode: 14 May 2020 - Economy contracts by 2% in Q1
Description: " The UK released data yesterday for Q1 GDP yesterday. Speculation has been growing for several weeks about just how deep the recession caused by the Covid-19 pandemic will be.
Despite the lockdown only being in place for a little over a week of the first quarter, the economy contracted by 2%. This is in line with other G7 countries and each is now estimating the size of the devastation of the current quarter. The current consensus for the UK, is for a 30% fall in Q2 which is totally unprecedented in peacetime.
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