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That's astonishingly badly handled by Johnson then.
I'd be wary about comparing apples with oranges. The extract from Reuters describes eurozone GDP drop per quarter, whereas the UK report is talking about a single month. It all depends on what happens after April, and if April was 'the bottom'.
I assume that the furlough scheme doesn't actually contribute here, as that's neither creating or destroying money (i.e. it's just putting money in peoples bank accounts, which is then counted in GDP) - is that correct?
Yes - the P in GDP is product, i.e. widgets that rolled out the factory, not shuffling money around.
Howard
Aah - apologies, was that in the article. That's astonishingly badly handled by Johnson then.
I assume that the furlough scheme doesn't actually contribute here, as that's neither creating or destroying money (i.e. it's just putting money in peoples bank accounts, which is then counted in GDP) - is that correct?