UK | More signs of an economy healing
Recent survey and high-frequency data have boosted hopes that the economy is in the early stages of a strong rebound as lockdown ends. Positively, that rebound rests on the foundations of solid household balance sheets. Indeed, the extent to which households (and the property market) were insulated from Covid’s economic shock was revealed in ONS data showing 2020 delivered the fastest rise in households’ net worth in six years.
What you will learn:
- The latest CHAPS payments data suggests that a revival in consumption is more than just a statistical artifact
- A chief area of concern in relation to the longer-term economic effect of Covid is the potential labor market damage
- The rise in households’ net monetary assets more than accounted for the growth in total UK net worth
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