Bank of England says it’s a V so far. But data suggests the spending revival could wane in autumn
- UK economic revival under way but jobs concerns grow
- UK Covid-19 cases fall but fears mount over jobs, spending and debt
As we struggle back towards a new, socially distant normal, among economists the letter debate continues. Will the recovery be a V or a U or a W in shape? My favourite is a Q, where we go round in circles for a while before breaking out.
Andy Haldane of the Bank of England, who monitors real-time indicators assiduously, has ruled that it is “so far so V”, as there has been a fairly robust recovery in some types of spending.