UK economy to slump over 10%, debts to surgeChristian Fernsby ▼ | July 10, 2020
Britain will suffer the sharpest peak to trough economic slump of any major economy this year, rating agency Moody's warned on Friday, while its debts as a share of GDP will surge.
"The UK’s public debt ratio will likely rise," a group of Moody's top analysts wrote in a note.
"We forecast a contraction of 10.1% in the UK's GDP for this year, but expect a gradual subsequent recovery on the back of the easing in lockdown measures, with growth rebounding to 7.1% next year". ■