Deloitte chief economist comments on today's GDP figures from the ONS has been saved
Deloitte chief economist comments on today's GDP figures from the ONS
12 August 2021
Commenting on the latest GDP figures, published by the ONS today, Ian Stewart, chief economist at Deloitte, said:
“The pace of repair in the UK economy has been extraordinarily fast. It took five years for the economy to recover output lost in the financial crisis. The damage caused by the pandemic has been far worse and the recovery far quicker.
“By the end of this year output is likely to be comfortably above the pre-pandemic peak, a two year recovery time. Massive government support has helped preserve capacity and speed up the rebound. This experience will strengthen the hands of those who believe that government – and public spending - should take a far more active role in countering conventional recessions.”
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