On Monday, when Queen Elizabeth II rests, much of Britain will be on pause.
The day has been designated as a public holiday, but the complete closure of public services and corporate activities is more widespread than other holidays when the 10 days of mass national mourning come to an end. With schools and many workplaces suddenly closing, non-emergency appointments in the National Health Service have been canceled and a wide range of businesses including restaurants, gyms, etc. Gyms and stores will have to close.
“As a sign of respect and to allow our team members the opportunity to participate in national mourning,” most Boots stores, a major drugstore chain, will close on Monday. , the company said in a statement. Tesco, Britain’s largest supermarket chain, is closing all of its major stores for the day along with most other major supermarkets. Even McDonald’s is closing all of its restaurants across the UK until 5pm
Clothing and homeware chains will mostly close, as will luxury department stores in London, including Harrods. However, some parts of normal British life will continue, as many pubs have said they will remain open.
Public holidays tend to disrupt the economy and lead to slower economic growth statistics for the month they are in. With the UK already suffering from a sluggish economy amid the energy crisis and High inflation for 40 yearsMonday’s disruption to operations could be enough to push the country into a recession, with two consecutive quarters of recession, analysts said.
The “slow start” to the third quarter, when the economy grew by just 0.2 percent in July from the previous month and added the holiday, “should send the economy into a technical recession – albeit a a mild downturn,” an analyst at Deutsche Bank wrote in a research note last week.
As the period of mourning ends and something closer to normal continues on Tuesday, pressing questions about how households and businesses will weather the winter and how government could shed some light on Britain’s bleak economic outlook, This is making it difficult for investorswill return with full force.
