Lockdowns to shave $1.25 bn a week off eco; 140 bps from Q1 GDP: Report

Amid surging pandemic cases forcing many states to curb mobility and businesses, a report has said these localised lockdowns in key economic hubs can cost the economy an average of USD 1.25 billion each week and may shave off 140 bps from the Q1 nominal GDP. If the current restrictions remain in place until May-end, the cumulative loss of economic and commercial activity could be around USD 10.5 billion or around 34 bps of nominal GDP, British brokerage Barclays said.
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