“Economic modelling by the Centre for Economics and Business Research (CEBR) found the economic shutdown is leading to a fall in economic output of 31 per cent.
It analysed the value of goods and services that are not currently being produced in each sector — finding that manufacturing, hospitality and construction sectors are losing the most.
The fall in output from the manufacturing sector is estimated to be costing the economy over £500million per day — a fifth of the total hit to the economy.
Production in the sector is down 69 per cent.
This is because workers producing goods and services that are not deemed to be essential cannot do so remotely and because export demand and sometimes domestic demand have fallen sharply.
The lack of production in the accommodation and food services sector is costing the economy £172million per day — down 79 per cent on pre-crisis levels.
The drop in output in the construction industry is worth £274million a day.
Non-food retail is losing £156 million per day.
The combined loss of output in all sectors is £2.4billion per day, laying bare the scale of the economic hit caused by the lockdown measures imposed to suppress the spread of coronavirus.”