Coronavirus: UK to see worst economic contraction among developed countries

The UK will experience the worst economic contraction among developed countries due to the coronavirus pandemic, according to a new forecast.

The Organisation for Economic Co-operation and Development predicts the British economy will shrink by 11.5% in 2020 due to the lockdown imposed since the first wave of coronavirus outbreak.

France is expected to see its annual GDP contract by 11.4%, and a fall of 11.3% is projected in Italy.

If there is a second wave of infections, the UK could face an even deeper contraction of 14%.

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