Economic Outlook

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  • October 30, 2020

    UK economic outlook The V-shaped recovery turns W

    The August month-on-month GDP growth figure of 2.7% disappointed relative to the rebound that occurred in the wake of lockdown being lifted, with GDP expansion of 2.7% in May, 9.1% in June and 6.4% in July. The Bank of England’s prediction in its August Inflation Report of a strong V-shaped economic recovery and a return to pre-pandemic levels of economic output by the end of 2021 turned out to be overly optimistic.