EY Item Club further downgrades UK economic expectations with full recovery unlikely until 2023

The British economy will diminish by 8% this year and is unlikely to recover from the damage operate by the coronavirus crisis until 2023, according to a resulting economic forecaster.

After official figures indicated Britain’s economy shrank by a record 20.4% in April- putting the country on course for the worst recession in more than three centuries– the EY Item Club was moved to produce its first interim report between two quarterly updates to indicate the deteriorating outlook.

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Read more: theguardian.com