(Bloomberg) — Staff shortages caused by Covid-19 illness and mandatory isolation could result in a 35-billion pound ($48 billion) loss in output over January and February, according to The Sunday Times. The projected loss is equivalent to 8.8% of gross domestic product and based on government planning assumptions of a 25% absenteeism rate, the study

A wave of staff absences triggered by Omicron sweeping across the UK could shave £35bn off the British economy, according to new figures released today. The loss in output caused by workers being forced to self-isolate after contracting Covid-19 may wipe off around 8.8 per cent of January and February’s combined gross domestic product (GDP),

Absenteeism caused by Covid-19 isolation and staff shortages could result in a £35 billion loss in output over January and February — equivalent to 8.8 per cent of gross domestic product (GDP) for those two months. The analysis for The Sunday Times by the Centre for Economics and Business Research (CEBR) is based on government planning assumptions

Staff shortages as a result of Covid-19 self-isolation requirements could cost the economy £35billion in January and February, data analysis has shown. Experts at the Centre for Economics and Business Research (CEBR) have predicted there will be an ‘economic cost’ to the country when the absenteeism rate hits the government’s assumptions of 25 per cent. The predicted

It is sometimes easier to look a few years ahead than it is to look a few months, and this is surely one of those times. We can only guess as to whether the pandemic will be pretty much over by the summer, but we can be confident that in five or 10 years’ time it will

Francine Lacqua, Anna Edwards, Matt Miller, and Kailey Leinz deliver the latest news and analysis on the markets with leaders in global finance and economics. Howard Davies, Natwest Group Chairman, says inflation pressures are growing in the U.K. Nina Skero, Centre for Economics & Business Research CEO, says the Fed’s more hawkish tone complicates the

Will 2022 be the year where the world economy recovers from the pandemic? That’s the big question on everyone’s lips as the festive break comes to an end. One complicating factor is that most of the latest major forecasts were published in the weeks before the Omicron variant swept the world. At that time, the mood was

China’s economy will increasingly rely on state investment, high-tech development and domestic consumption — with less input from its past staple of export manufacturing — as it stands to overtake the United States in the coming decade, analysts predict. China’s GDP should grow 5.7 percent per year through 2025 and then 4.7 percent annually until

The UK will trail other developed countries in its economic recovery from the pandemic in 2022, with economists polled for a Financial Times survey predicting that it will be held back by political uncertainty and the lingering after-effects of Brexit. Of almost 100 economists, a majority said that UK living standards would worsen in the

Economists expect UK living standards to deteriorate in 2022 as inflation and rising taxes hit poorer households, while supply-chain blockages and Brexit-related trade underperformance will limit economic growth. The Financial Times’s annual survey of almost 100 economists revealed that most expect inflation to outpace wages, while Covid-19 will continue to disrupt production and consumption. At

Cutting the Covid self-isolation period from seven days to five would save the economy £300m in lost output in January, economists have estimated, as businesses are crippled by hundreds of thousands of absent workers. Current rules could cost the economy almost £1bn next month as Covid infections soar, according to the Centre for Economics and Business Research (CEBR)

The year ahead will be dominated by efforts to fight inflation along with climate change, while global economic growth will be reasonably strong and stock markets weak, according to an economic forecaster. The world starts the year with economies held back by a supply chain crisis and the rapid spread of the Omicron coronavirus variant,

The world economy is set to surpass $100 trillion for the first time in 2022, two years earlier than previously forecast, according to the Centre for Economics and Business Research. Global gross domestic product will be lifted by the continued recovery from the pandemic, although if inflation persists it may be hard for policy makers

The Centre for Economics and Business Research (CEBR) disclosed the findings in its annual World Economic League Table (WELT 2022) report on Sunday, stating that Bangladesh has been among the world’s fastest growing economies over the last decade. The country is forecast to place 41st in 2022 up from its current position of 42, reaching

The Centre for Economics and Business Research (CEBR) has predicted that India will regain sixth position from France next year and become the third-largest economy in 2031, a year later than previously predicted. CEBR, one of the UK’s leading economics consultancies, in its annual World Economic League Table also predicted that China will overtake the