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The UK economy is set for a pre-Christmas slump with further job losses and store closures, despite government measures to protect businesses during the latest Covid-19 restrictions.
Polls on business activity reveal a steep drop as new and stiff restrictions were rolled out across the UK during the second wave of coronavirus, setting the stage for a tough winter ahead as the economy plummets into reverse.
Although the damage to many industries will be less severe than in the first block, accounting firm BDO said business and manufacturing confidence measures declined in October for the first time since April:
23:52
October has been the worst month for the pandemic so far
A Reuters tally calculated October was the worst month of the coronavirus pandemic so far, with its second wave in the past 30 days accounting for a quarter of all cases.
The last month has seen the spread of the virus accelerate rapidly: while it took 32 days for cases to go from 30 million to 40 million, it only took 21 days to add another 10 million.
The milestone followed the U.S. reporting of more than 100,000 new cases in four consecutive days. The country broke its record of daily cases almost every day last week.
Europe has also contributed significantly to the global wave of cases. The region has reported around 12 million infections, making it the worst affected region, surpassing Latin America. In addition, it accounts for nearly a quarter (24%) of coronavirus deaths.
A Reuters analysis showed that the number of new coronavirus cases in Europe grows by about one million every three days:
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The economic fallout of Covid-19 makes the prospect of World War III “ a risk ”
Here it is more about a third world war which is a “risk” in the wake of the pandemic.
The economic fallout during the coronavirus pandemic made the prospect of a third world war “a risk,” said the UK’s senior military commander.
PA Media reports that General Sir Nick Carter, the defense chief of staff, made the comments when asked by Sky News in the run-up to Remembrance Sunday if he feared the global economic crisis caused by the coronavirus could lead to war. He told the Sophy Ridge on Sunday program that there was concern that the increase in regional conflicts taking place around the world could turn into “a full blown war”, mirroring the run-up to two world wars in the 20th century. when a series of alliances between countries led to years of bloodshed.
The senior official argued that, with the world “a very uncertain and anxious place” during the pandemic, there was a possibility “we could see an escalation lead to miscalculations.”
“We have to remember that history may not repeat itself but it has a rhythm and if you look back at the last century, before both world wars, I think it was indisputable that there was an escalation that led to the miscalculation that ultimately did led to warfare on a scale that we hope we will never see again, ”Carter said.
Asked if he was saying there was a “real threat” of a third world war, he replied: “I’m saying it’s a risk and we need to be aware of those risks.
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