The economic forecasts for the biggest Western nations affected by Covid-19 have been revised downward once again – with the UK seeing a particularly steep drop-off.
Italy’s GDP is expected to drop by more than 9.3% in 2020, according to the latest forecasts from GlobalData.
France’s GDP is set to drop by 7.3% during the year, the UK’s by 7.0% and Germany’s by 6.3%.
The UK saw the biggest downward revision from last week, when its economy was expected to shrink by just 5.4% in 2020.
The news came on the day the UK registered the highest known Covid-19 death toll in Europe.
The US economy is now expected to shrink by 5.2%. Japan’s is expected to shrink by 4.3%, slightly less than the 4.4% forecast last week.
Stock markets have generally remained stable across all markets in our tracker.
We are using exclusive dynamic figures provided by GlobalData analysts to track key economic indicators in major world economies hit by Covid-19. Deaths from the virus are plotted alongside the indexed performance of each country’s major stock exchange and the number of “active jobs” – jobs open for applications across all major industries. Figures are tracked daily from 1 March 2020.
Nicu Calcea is a data reporter at New Statesman Media Group. 
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Nicu Calcea
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