5 Things You Need To Know, Today, on Friday 22nd May 2020
Justin Waite
5 Things You Need To Know
05:13, 22nd May 2020

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5 Things You Need To Know, Today, on Friday 22nd May 2020

5. Boris Johnson has instructed civil servants to make plans to end UK's reliance on China for vital medical supplies and other strategic imports in light of the coronavirus outbreak.

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4. A further 2.4 million Americans sought unemployment benefits last week, despite hopes that easing lockdown restrictions would help restart the US economy.

The new filings brought the total since mid-March to roughly 38.6 million people - almost a quarter of the workforce.

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3. China will not set an economic growth goal for this year as it deals with the fallout from the coronavirus pandemic.

It is the first time Beijing has not had a gross domestic product (GDP) target since 1990 when records began.

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2. Some rural parts of the UK have seen a surge in job adverts posted, despite the coronavirus pandemic.

Parts of Scotland and north-eastern England also saw an increase but the largest weekly falls in vacancies were reported to be in the South West and North West.

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1. Britain is enduring its deepest recession in centuries but the havoc wrought by the coronavirus pandemic will not be enough to push the Bank of England to adopt negative interest rates.

According to a Reuters survey of economists, the economy will contract 17.5% this quarter, a much sharper contraction than the 13.1% predicted last month.

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Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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