UK economy – Britain’s economy contracted by a record 20.4% in the second quarter, as the full economic effect of the coronavirus lockdown hit the service heavy nation hard. This is the largest economic retraction
reported by any major economy so far, and the steepest decline ever recorded over a quarter. On a positive note, there are already signs that the economy is rebounding after an easing of lockdown restrictions, in June alone gross domestic product (GDP) grew by 8.7%, beating economist’s expectations of 8%.
Covid-19 – UK Prime Minister, Boris Johnson, stated this week that he wishes to ease coronavirus lockdown restrictions further around the country, excluding Greater Manchester. The easing of lockdown
restrictions would allow various leisure sectors to open back up to the public, which would include: bowling allies, indoor soft play centres, beauty salons and spas, and arts/music indoor venues. Mr Johnson also announced the increasing of fines for breaking mask wearing rules, which will increase to £3,200. On Thursday, the UK officially added more countries to the 14-day quarantine on return list. The list now includes France, Malta, the Netherlands, Aruba, Monaco and the Turks Islands as the number of virus
cases have spiked in each country.
Frenkel Topping Group Plc, together with its subsidiaries, provides independent financial advisory and investment management services to personal injury and clinical negligence victims in the United Kingdom.