On Sunday, Labour’s Anneliese Dodds tweeted that the UK ‘had the worst recession and the worst growth of any major economy last year’, and that ‘Covid closed much of our economy, but the Conservatives crashed it’. Of course, this is just a tweet and almost all politicians try to score points in this way. Nonetheless, … Continue reading What’s behind the relatively large fall in UK GDP? (reprise…)
According to the latest official data, the UK has seen a larger fall in GDP during the pandemic than almost any country in Europe. The worst hit economies are actually Greece and Spain. But the UK appears to have suffered much more than France, Germany, Italy, or Sweden. This needs some explaining. Let’s deal first … Continue reading Why has the UK economy been among the worst hit by Covid?
The lacklustre GDP data in May have put a significant dent in hopes of a rapid turnaround in the UK economy, but I’m not going to bin my relatively optimistic forecasts just yet. I still expect the shape of the recovery to look roughly like a 'V', with GDP back close to pre-Covid levels by … Continue reading Is the UK still on track for a V-shaped recovery?