Bank of England Governor Andrew Bailey said on Friday that Britain’s economy was starting to recover from its coronavirus lockdown but some job-intense sectors remained weak and the longer-term outlook was unclear.
“We are seeing activity return. We are beginning to see this recovery,” Bailey said during a webinar organised by the central bank.
There were signs of activity returning “quite strongly” in the housing market and in new car sales, but not in hospitality and entertainment, which employ large numbers of people, many of them on low pay, he said.
There was a “very big question” about how cautious people would be about returning to life as before the crisis and there were also risks of a second wave of COVID-19, or localised outbreaks, Bailey said.
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