Signs of rapid recovery

BoE economist sees signs of rapid recovery Britain's economy is on course for a rapid recovery from the coronavirus crisis, Bank of England chief economist Andy Haldane has predicted. Noting that strong consumer spending has already helped claw back as much as half of the losses seen in the wake of the pandemic, Mr Haldane says the economy is expected to expand by more than a fifth in the second half of the year. This, he adds, would be “by far the fastest rise” since quarterly records began. Saying that economic activity is rising “sooner than anyone expected”, he insists that the “foundations for an economic recovery – a rapid one – are already in place, hiding in plain sight.”