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The UK economy is on the verge of a pre-Christmas crisis with further job losses and store closings, despite government measures to protect businesses during the latest Covid-19 restrictions.
Business activity surveys show steep decline as tough new restrictions were launched across the UK amid coronavirus wave second, setting the stage for a tough winter ahead as the economy plunges in the reverse.
While the damage to many industries will be less severe than in the first lockdown, accounting firm BDO said business and production confidence measures fell in October for the first time since April:
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October has been the worst month for the pandemic so far
A Reuters tally calculated that October was the worst month in the coronavirus pandemic yet, its second wave in the past 30 days accounting for a quarter of all cases.
The last month saw the virus spread at a rapid pace: while it took 32 days for cases to drop from 30 million to 40 million, it took just 21 days to add another 10 million .
This grim milestone followed the United States’ reporting of more than 100,000 new cases over four consecutive days. The country broke its own record for almost daily cases in almost every day last week.
Europe has also contributed significantly to the global surge in cases. The region has reported around 12 million infections, making it the worst-hit region, overtaking Latin America. It also accounts for nearly a quarter (24%) of deaths from coronaviruses.
A Reuters analysis has shown that the number of new coronavirus cases in Europe is increasing by around one million every three days:
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The economic fallout from Covid-19 makes the prospect of a third world war a ‘risk’
Here is more on a World War III being a “risk” in the wake of the pandemic.
The economic fallout from the coronavirus pandemic has made the prospect of a third world war a ‘risk’, the UK’s top military commander has said.
PA Media reports that General Sir Nick Carter, the Chief of the Defense Staff, made the comments when asked by Sky News on the eve of Remembrance Sunday if he was concerned that the global economic crisis caused by the coronavirus does not lead to war. He told the Sophy Ridge on Sunday program that there was a fear that the increase in regional conflicts unfolding across the world could degenerate into “a full-fledged war,” reflecting the period leading up to the two world wars in the United States. 20th century when a series of alliances between countries led to years of bloodshed.
The senior official argued that with the world being “a very uncertain and anxious place” during the pandemic, there was the possibility “that escalation could lead to miscalculations”.
“We have to remember that history may not repeat itself, but it has a rhythm and if you look at the last century, before the two world wars, I think it was indisputable that there was a escalation which led to the miscalculation which ultimately led to war. on a scale we hope to never see again, ”Carter said.
When asked if he said there was a ‘real threat’ of a third world war, he replied, ‘I say it’s a risk and we have to be aware of those risks.
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