Britain’s economy is set for a “rapid recovery” from the pandemic helped by strong consumer spending, a top economist said today.
The Bank of England’s chief economist Andy Haldane said the public’s willingness to shop and eat out has already helped the UK claw back up to half of the losses sparked by the coronavirus lockdown.
He says the country should “see the economic glass as half full rather than half empty” as official figures show a surge in the number of workers returning to the office.
And with the economy set to break records by growing more than a fifth in the second half of 2020, Mr Haldane says the recovery is already happening.
Writing in the Daily Mail, he said: “The foundations for an economic recovery – a rapid one – are already in place, hiding in plain sight.
“Economic activity in the UK is not falling like stone, in fact it has now been rising for more than three months, sooner than anyone expected.
“It has also recovered far faster than anyone expected.”
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