V Shaped Economic Recovery From Coronavirus Pandemic According To Chief Economist at Bank Of England
V Shaped Economic Recovery From Coronavirus Pandemic According To Chief Economist at Bank Of England. Andy Haldane alos sits on Bank of England interest rate setting Monetary Policy Committee MPC. If the UK consumer spends he and she can drag us out of the coronavirus pandemic economic hole.
If the UK continues to recover on a similar path as lockdown measures ease further the the loss in annual GDP could be far lower than first feared. More like 8 percent contraction instead of 17 percent forecast in May.
The greatest risk to health economic growth and business now is unemployment when government financial support dissipates. The UK consumer must pick up the slack by spend spend spending at the same time as the UK government invests massively in UK infrastructure.