Coronavirus: First symptoms of slump show in Scotland’s formal figures

Coronavirus: First signs of slump show in Scotland's official figures

Impression copyright
PA Media

Graphic caption

Manufacturing was in particular terribly hit by Covid lockdown measures

Scotland’s overall economy began to agreement as shortly as coronavirus lockdown actions have been imposed.

Gross domestic product or service (GDP) fell by 2.5% in the very first quarter of the calendar year, with provisional figures for April exhibiting an 18.9% drop.

A additional dramatic contraction is envisioned in the subsequent set of figures for Scotland, reflecting the suspension of substantially economic action.

Figures for the United kingdom as a complete showed a 20.4% decrease in April.

The most significant declines arrived in the manufacturing sector, significantly producing.

  • What is GDP and how is it calculated??

Overall economy Secretary Fiona Hyslop stated the data showed how severely lockdown had afflicted organization.

“The coronavirus (Covid-19) pandemic is having an really serious impact on the economic climate right across the United kingdom and – as these figures show – Scotland is no exception,” she explained.

“Ever considering that the start of this crisis the Scottish govt has been performing tirelessly to retain enterprises afloat and ensure as several people as attainable retain their employment, and we will carry on to do that.

“So far this has incorporated a personalized bundle of more than £2.3bn in organization support.”

See also  Republic of Bolivia of United States

About the author: Cory Weinberg

"Student. Subtly charming organizer. Certified music advocate. Writer. Lifelong troublemaker. Twitter lover."

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *