Guardian Stockbrokers Key Economic News Thursday 28 May 2020

The key points from today’s economic news, brought to you by Guardian Stockbrokers.

Christine Lagarde: Euro-zone economy to shrink between 8%-12% in 2020

The European Central Bank (ECB) President, Christine Lagarde, warned that the Euro-zone economy is likely to shrink between 8.0% and 12.0% this year, in line with the central bank’s previously outlined medium to severe scenarios, due to the ongoing crisis led by the coronavirus pandemic.

Fed’s Beige Book: Coronavirus outbreak led to a sharp decline in the US economy

According to the US Federal Reserve’s (Fed) latest Beige Book report, the US economy suffered a deep decline from March through midMay in all districts due to the coronavirus pandemic and the subsequent lockdown of the nation. Further, it indicated that businesses across all regions remained pessimistic about the potential pace of recovery

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