economy

It’s time to go for growth before Covid destroys the economy

His top gripe is that NHS management – who let the health system become the chief vector of transmission in March – is now so focused on eliminating Covid that person-to-person diagnosis of other diseases has stopped, to the net detriment of overall health.  

“The reality, which they seem not to understand, is that we don’t have some virgin population. We’ve already been pole-axed, and as a result, it’s basically over. What happened in places such as London won’t be repeated, ever,” he says. Many others have reached the same conclusion.  

“The ideology of zero risk is dangerous,” says Yonathan

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UK poised to suffer the biggest Covid blow of any major economy

The furlough scheme is being wound down ahead of its end in October. The bank’s consumer confidence indicator has also pulled back to its lowest level since mid-June, driven by unemployment fears.

Robert Wood, economist at Bank of America, said “caution abounds over medium-term spending plans” and consumers that saved during lockdown are now more hesitant about purchases.

Fabrice Montagne, chief UK economist at Barclays, also warned of rising consumer concerns, adding: “The fears of unemployment when policy support is phased out will likely act as a drag.”

However, spending in some of the ­industries hardest hit by Covid-19, including

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Sweden’s economy outperforms other European countries during pandemic

Sweden’s economy has fared better during the peak three months of the coronavirus pandemic than the European average, the country’s statistics agency has reported, adding to growing evidence that the decision to avoid a full lockdown is paying economic dividends. 

The country’s gross domestic product (GDP) fell by 8.6 per cent in April and June, compared to the preceding three months, Statistics Sweden reported. 

The average drop of the ten member states who have so far submitted flash estimates for the three months is 11.9 per cent, the EU’s statistics agency reported last week. Spain, France and Italy did still

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Beirut blast delivers near-fatal blow to Lebanon’s crippled economy

Its economic woes began long before this latest catastrophe, however. As far back as last October hundreds of thousands of Lebanese citizens faced with regular electricity blackouts and 25pc unemployment took to the streets, in protest against a political system based on religious sects formed after the end of the civil war in 1990. Lebanon’s culture of bribery, embezzlement and nepotism has put it among the world’s most corrupt countries, according to Transparency International. According to the World Bank, nearly half the population are now living in poverty.

Years of living on the never-never finally came home to roost in

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