Press releases

Deloitte chief economist comments on today's GDP figures from the ONS

12 May 2021

Commenting on the latest GDP figures, published by the ONS today, Ian Stewart, chief economist at Deloitte, said:

“The bounce in activity in March as schools reopened is a foretaste of the powerful recovery that is coming. There’s never been a recession caused by having to close the economy; and there’s never been a recovery caused by re-opening it.

“Over the spring and summer we are likely to see more than four years of normal growth packed into just six months. This is no common or garden recovery.”

-Ends-

Notes to editors

About Deloitte
In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.

Deloitte LLP is a subsidiary of Deloitte NSE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.

The information contained in this press release is correct at the time of going to press.

For more information, please visit www.deloitte.co.uk.

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