It's one jubilee, Michael. What could it cost — a half percentage point off the gross domestic product?
The U.K.'s bank holiday celebrating Queen Elizabeth II's 70 years on the throne on Thursday could "tip the U.K. economy into contraction" and shave a half-point off the GDP in the second quarter, Bloomberg Economics reports based on previous holidays. The loss of a working day could also be compounded by the fact that many will take "an additional one or two days' leave to complement the long weekend," Bloomberg adds.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
Why is Tesla stumbling?In the Spotlight More competition, confusion about the future and a giant pay package for Elon Musk
-
How Taylor Swift changed copyright negotiations in musicunder the radar The success of Taylor's Version rerecordings has put new pressure on record labels
-
Job scams are increasingly common. Here's what to look out for.The Explainer You should never pay for an application or give out your personal info before being hired
-
'Manipulated' photo of UK's Princess Kate spikedspeed read The first official image of Kate Middleton since January has been retracted
-
King Charles diagnosed with cancerSpeed Read Monarch 'remains wholly positive about his treatment', during which senior royals are expected to stand in for him
-
Princess of Wales to remain in hospital for two weeks as King prepares for prostate treatmentSpeed Read The timing of the two royal medical announcements was said to be an 'unavoidable coincidence'
-
King laughs about his 'sausage fingers' in new documentarySpeed Read Charles's ample digits have long attracted 'attention and concern' but he is often the 'first to poke fun'
-
Prince Harry: judge rules 'extensive' phone hacking carried out by Mirror Group papersSpeed Read High Court rules in Duke's favour as he urges police investigation, claiming editors lied under oath at Leveson Inquiry
-
King Charles at 75: how the monarch has made his markTalking Point 'Modernising monarch' puts change on hold in first year in favour of stability and continuity
-
Royal family website attacked by Russian hackersSpeed Read Pro-Kremlin group claim responsibility just two weeks after King Charles condemns invasion of Ukraine
-
What have we learned in King Charles’s first year?Today's Big Question The monarch is ‘stamping his personality’ on the role and is definitely not a ‘caretaker’, says Palace source
