国际英语资讯:European economy devastated by pandemic as COVID-19 cases well pass 500,000_时事

国际英语资讯:European economy devastated by pandemic as COVID-19 cases well pass 500,000

However, if the emergency continues beyond May, "our forecast will have to be revised downwards," Confindustria analysts wrote, adding that national GDP will likely drop by "a further 0.75 percent" for every additional week that production is at a standstill due to the coronavirus pandemic.

SPAIN

The monthly unemployment figures published on Thursday showed that the harm the coronavirus crisis is doing to the Spanish economy. In March, of Spain's population of 46.8 million, 303,365 people lost their jobs, with 3.55 million people now registered as unemployed.

Meanwhile, the number of people contributing to Spain's social security system fell by 833,979, as the lockdown imposed in the country from March 14 has been affecting small businesses and self-employed workers.

The slowdown in the economy was confirmed by data published by the Madrid Public Transport System, which indicated that the use of public transport fell by 93 percent compared with the same period in 2019.

The government said it would inject 200 billion euros into the national economy in a series of measures to offset the effects of the coronavirus epidemic.

Standard & Poor's Global Ratings noted in a recent statement that "the eurozone and the UK are facing recessions" and that "we now expect gross domestic product (GDP -- in the eurozone and the UK) to fall around two percent this year due to economic fallout from the coronavirus pandemic," representing a loss of 420 billion euros in real GDP in 2020 "compared with our forecast from November 2019."

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