UK economy: a full recovery from the Covid slump will be slow

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Job losses and the possibility of second closures likely to hamper UK’s emergence from recession

Twice as bad as the US. Ten times worse than anything seen during the financial crash of the late 2000s. Worse than any EU country. The UK is planted firmly at the bottom of the Covid-19 developed country league table after the economy contracted by a fifth in the second quarter of 2020.

The reasons Britain is once again being dubbed by some “the sick man of Europe” are pretty clear. After weeks of dithering, the government imposed a stringent lockdown that was tougher and lasted for longer than elsewhere. Allowing the virus to spread to care homes meant the re-opening of bits of the economy was slow.

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