A record-breaking slump among Britain's services and manufacturing firms deepened in late March with much of the economy in a shutdown to slow the spread of coronavirus, a survey showed on Friday.
LONDON - A record-breaking slump among Britain’s services and manufacturing firms deepened in late March with much of the economy in a shutdown to slow the spread of coronavirus, a survey showed on Friday.
Britain’s dominant services industry suffered its biggest slump by far since the survey began in 1996, and its index sank to 34.5 from February’s 53.2, weaker than the flash reading of 35.7. With policymakers around the world scrambling to cushion their economies from the coronavirus shock, Britain’s government offered to pay 80% of the wages of workers who are temporarily laid off by companies.
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