UK | The economy reveals a resilient base for recovery
While the economy shrunk in Q1, the fall was smaller than feared. And the quarter ended with evidence of activity building momentum even before a meaningful relaxation of Covid restrictions began.
The latest high-frequency measures reaffirmed the message of such indicators since mid-April that GDP is on course for a strong rebound in Q2, aided by the final stages of the roadmap for reopening the economy staying on track.
What you will learn in this comprehensive 4 page report:
- A rise in GDP in March narrowed the shortfall with the pre-pandemic level of output to just under 6ppts
- Spending on credit and debit cards in early May was 6% above pre-pandemic levels
- Some indicators suggest pent-up consumer demand may be stabilising
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