UK economy has recovered half of COVID losses, BoE's Haldane says


LONDON, July 20 (Reuters) - Britain's economy has recovered around half of the massive fall in output that took place in March and April when the COVID-19 lockdown was most intense, Bank of England chief economist Andy Haldane said on Monday.

"Roughly half of the roughly 25% fall in activity during March and April has been clawed back over the period since," Haldane told members of Britain's parliament.

"We have seen a bounceback. So far, it has been a ‘V’. That of course doesn’t tell us about where we might go next," he added.

(Reporting by William Schomberg, writing by David Milliken)

((; +44 20 7542 5109; Reuters Messaging:

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.