• The country’s economy shrinks by 6.8% following lockdown and data for an earlier pre-pandemic period also shows a contraction but house prices surge August, 2020

    A nowcast for Wales for the 12 months ended June 2020 on a rolling 4 quarter basis, published by the Economic Statistic Centre of Excellence (‘ESCoE’), has estimated that the country’s economy contracted by 6.8%. This ranked the country eleventh in the UK and suggests the country’s economy has so far coped ‘poorer’ with the pandemic relative to the other eleven UK ‘regions’. Over the same period the East Midlands was ‘best’ with a fall of 4.5%, with London’s contraction the ‘worst’ at 7.4%; the UK’s decline according to the Office for National Statistics (‘ONS’) figures was 5.3%. ESCoE is a partnership...