UK economy poised like a coiled spring, says Bank economist
The UK economy is like a “coiled spring” ready to release large amounts of “pent-up financial energy”, the Bank of England’s chief economist has said.
Andy Haldane said consumer confidence would surge back thanks to the vaccine programme, with the economy firing “on all cylinders” by spring.
He is the latest economist to forecast a sharp rebound in growth after an expected easing of restrictions.
The economy is currently set to shrink 4.2% in the first three months of 2021.
Writing in the Daily Mail, Mr Haldane said: “With 13 million of the most vulnerable people already vaccinated, the risk of death or hospitalisation in the UK has already probably halved.
News Source: https://www.bbc.co.uk/news/business-56035488
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