Research Briefing | May 14, 2021

UK | The economy reveals a resilient base for recovery

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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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