Predictions of the size by which the world’s major economies will shrink in 2020 have been cut slightly, amid signs the rise in Covid-19 cases might be slowing down.

The US is now forecast to see its GDP fall by 3.9 per cent over the year, with the UK down 4.5 per cent, France by 4.6 per cent and Germany by 4.4 per cent.

Stock markets also saw a slight uptick towards the end of last week.

The forecasts – made by experts at GlobalData – are slightly more positive than the same figures from a week ago.

Global cases of Covid-19 were up by 70,640 to just under two million yesterday. That represented the smallest daily increase for three days.

The number of new confirmed deaths also fell for the third day in a row, rising by 5,391 to a total of 119,482 worldwide.