UK’s Jubilee Party Week Muted by Gloomy Economic Outlook

London was
buzzing with tourists
heading into this holiday week to celebrate the Queen’s Platinum Jubilee, but for all the Union Jacks fluttering along Oxford Street, there were plenty of ominous signs for the UK economy.

The celebration of Queen Elizabeth II’s 70 years on the throne, giving most people a four-day weekend starting Thursday, may shave a half percentage point off Britain’s gross domestic product in the second quarter, according to

an estimate
by Bloomberg Economics based on previous holidays.