World Coronavirus Dispatch: UK sees record collapse in output in Q2 of 2020

Royal Dutch Shell to cut 9,000 jobs, seven US airlines get stimulus loans, Saudi economy shrinks 7% in Q2 and other pandemic-related news across the globe

Britain suffered a record collapse in economic output in the second quarter of 2020 when Covid-19 lockdown measures were in full force, though the decline was slightly smaller than first estimated. Gross domestic product shrank by 19.8 percent in the three months to June, the Office for National Statistics (ONS) said, slightly less than the initial estimate of a quarterly 20.4 percent crash but still more than for any other major advanced economy. The fall was the biggest since the ONS records began in 1955. Read more here

Let’s look at the global statistics:

Total Confirmed Cases: 33,652,960

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