Looming recession poses second global embarrassment for UK
First coronavirus, now the OECD says Britain will top the developing world’s recession league table. Here’s why
Worse than Italy. Worse than Spain. Britain has already had more deaths from Covid-19 than any other European country. Now it faces the possibility of a second embarrassment: the deepest recession of any nation in the developed world.
There’s not much in it, according to the latest forecasts from the Organisation for Economic Cooperation and Development. Italy and Spain are also propping up the league table put together by the Paris-based thinktank. A lot can happen between now and the end of 2020, a year that has not yet reached its mid-point.