Home Business News UK GDP to contract 10.1% this year, warns Moody’s

UK GDP to contract 10.1% this year, warns Moody’s

by LLB Editor
10th Jul 20 10:52 am

Moody’s has said it expects to see UK GDP contract 10.1% this year and a sharper peak-to-trough contraction than any other G20 economy, Reuters reports.

The ratings agency has also said that it expects a significant deterioration in the UK’s deficit and public debt ratio this year.

The public debt ratio will likely rise by 24 percentage points of GDP or more, relative to 2019 levels, Moody’s said.

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